Radio Advertising is Flying High in Canada!

by
CanGoose

It is now the second quarter of 2008 and guess what? It looks like the numbers once again defy the media’s “conventional wisdom.” Media in Canada reports:

For radio advertising, the second quarter of 2008 is a good news story, according to the latest findings by Canadian Broadcast Sales […] The Toronto-based organization predicts that, following an increase of 8.8% in national radio sales in Q2, a lift of approximately 8% will continue for the rest of the year.

Not only are the numbers good for the first part of the fiscal year, but the projections are, too.

The national retail category continues to lead all sectors in Q2, capturing one of every five dollars spent on radio. [CBS President Patrick] Grierson calls that “a strong endorsement of the local nature of the medium, its unique relationship with its listeners and, most importantly, its results.”

In addition to retail, several other areas showed increased radio ad spending over the period. Telecommunications, restaurants, automotive and financial services all showed significant increases in their outlay for broadcast ads. Grierson is quoted as saying that while 36.9% of last year’s business did not repeat (35% being the yearly average), the industry not only recouped those numbers but also added an additional 8.8%. “Radio’s resilience is a major factor in its strong performance,” Grierson notes.

Another interesting trend shown by the study is the increased focus on the female demographic. Advertisers spent almost 20% more on ads aimed at females than they did last year. At the same time, ads geared towards a male demographic reduced by 43%.

Looks like more good numbers for the “dying medium.”

Photo courtesy of jurvetson, used according to its Creative Commons license

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