Radio has come a long way since the days of The Shadow and The Lone Ranger, and it’s coming back strong, observes Grumpy Editor.
BIA/Kelsey’s 2017 Investing in Radio Report indicates radio will surpass newspapers and become the fifth-largest media category among advertisers by 2021.
The report adds that nearly a century after radio stations began accepting commercials, the medium now takes about 10 percent of all local ad revenue and its fastest growing segment is on digital platforms.
BIA/Kelsey notes radio stations digital advertising income was up 14 percent last year, along with a slight increase in over-the-air income that continues to grab the biggest chunk of about $14.1 billion.
“In an age where consumers have many entertainment choices, local radio maintains its strength and popularity in the marketplace among national and local advertisers,” says Mark Fratrik, senior vice president and chief economist at BIA/Kelsey.
The report projects radio revenue reaching $14.9 billion this year, topping $16 billion by 2021.
The news-talk category shows the most improvement for 2016.
Highest earning local radio station last year: WTOP, Washington, D.C. with $67.5 million in ad revenue.
Direct mail remains the most lucrative segment of local ad spending.
IN CASE YOUR FAVORITE NEWS OUTLETS MISSED THESE…
California on Saturday upped the state tax on a pack of cigarettes by $2, making the average cost per pack now a steep $7.89…Monthly index of pending home sales jumped 5.5 percent in February, 2.6 percent higher than a year prior…Investigation into possible connections between Russian agents and the Trump campaign was the most-talked-about story on news/talk radio last week, notes Talkers magazine...Along with that, Grumpy Editor observes a daily overused phrase since before the November election: Russian meddling… Quote of the week? At the daily White House briefing, Sean Spicer, press secretary, tells media, "If the president puts Russian dressing on his salad tonight, somehow that's a Russian connection”…Wells Fargo agrees to pay $110 million to settle a class-action lawsuit over accounts its staff opened without clients' consent. It marks the first private settlement that Wells has reached since paying $185 million to federal and local authorities last year over its sales practices…Now sprouting gray hairs is the PR department at Bank of America after a bankruptcy judge issued a $45 milliion fine, citing the bank's treatment of a Calif0rnia couple who fought to save their home as "brazen" and "heartless"...The White House staff is joining in skipping this year’s White House Correspondents’ Association Dinner…Despite California’s steepest Sierra Nevada springtime snowpack in years --- with snowdrifts up to 20 feet deep at higher elevations, the Golden State remains under drought declaration…The Guardian, London, reports a Staffordshire bull terrier mauled its owner to death while he was being interviewed by a BBC film crew...Rule: Don’t get your newspaper carrier upset. A 42-year old newspaper carrier in the northern German city of Lueneburg stabbed a 51-year-old customer multiple times with a knife, killing the subscriber who police say repeatedly complained about delivery problems.
Gear up for National Pet Day April 11, get a
goodie for your dog, cat --- or turtle.
