Online radio advertising is predicted to reach $802 million within the next four years, satellite radio ad revenues will grow 9.5% to $116 million. (Note: the outlook is not so rosy for satellite radio in Canada)
While PWC goes gaga over digital media, get some perspective on all this by re-reading
Did you realize that interest in radio is growing among media buyers?
Did you realize that radio ties television in growing interest?
Probably not. It’s apparently a secret.
A new survey of media buyers found that 25% of agency buyers are more focused on radio than they were last year, a 31% increase.
Not only did interest in radio increase, it equaled the increase in spot TV!
Given the persistence of the “Radio is Dead” meme, you’d think it ought to be big news. But it’s not. The news was buried in a single sentence in the last paragraph of a 1000 word press release that focused almost entirely on the battle between television and digital.
The study, ostensibly a comprehensive look at agency attitudes across media, barely touched on radio.
Check out the press release and a MediaPost story that completely ignored radio.
Perhaps radio got buried because the study was done by Strata, a division of Comcast that sells software to buyers. Comcast has plenty of horses in the TV versus digital race, but nary a one in radio.
But perhaps radio got buried because the business is doing a lousy job selling the value of radio.