I am sure that advertisers are far from the only ones to be pleased with the latest news from the UK, news which betokens radio maturing into the digital age. Caitlin Fitzsimmons of The UK Guardian reports:
The UK commercial radio sector has recorded its best quarter in two years, with advertisers spending £158.8m (approx. $311.2m -George) on the medium in the first three months of 2008, according to newly released figures.
Total revenue, including national and local advertising and sponsorship and promotion, rose 7% year on year for the quarter ended March 31 according to industry trade body the RadioCentre.
After four quarters of consecutive growth this is commercial radio’s strongest revenue performance since the first quarter of 2005, when the sector earned £162m (approx $317.5m – George).
The increasing frequency (pun intended) of reports like this denotes to me that we are seeing things stabilize in the aftermath of the initial surge of new media options. Much like the introduction of FM band, and later television, there was a period of shake ups and growing pains within the broadcast world that has continued since the introduction of viable Internet media delivery systems. In each past occurrence, radio adjusted its stance into a new configuration and moved seamlessly into each new era, continuing to maintain relevance in each successive age.
I gather I am not the only one to see things in this light either:
“This is great news for our sector and these revenues show that there is an increasing understanding of radio’s role in the digital age – including its effectiveness when used alongside online advertising,” [Andrew] Harrison [chief executive of RadioCentre] added.