The Irish radio sector continued to enjoy strong revenues in the first half of 2022, according to the latest revenue data collected by Radiocentre Ireland.
The Radiocentre Ireland report shows that the Irish radio advertising market enjoyed revenues of €74.2m for the January to June 2022 period. Revenue remained buoyant throughout the period with revenues in Q1 2022 up 22%, while revenues for Q2 were up 14% on the same period last year.
The €74.2m revenue was made up of €60m of spot revenue (radio commercials) which was up 16% for the period. Branded content revenue (sponsorships, partnerships, content solutions) came to €12.9m up 21%, while digital audio revenue was €2.3m for the period, up 50%.
Revenue from media agencies came to €51.9m, up 10% while revenue coming directly from advertisers was €22.3m, up 40%.
According to Ciaran Cunningham CEO Radiocentre Ireland: “I am delighted to see such strong revenue growth for the radio sector for the first 6 months of the year. 2022 got off to such a strong start with revenue growth of 22% in quarter 1 and it is very encouraging to see that this great start was followed up with revenue growth of 14% in quarter 2. Radio listening is booming, and today’s revenue figures show that advertisers are increasing investment in the medium so that their brands access robust and valuable audiences, in a trusted environment, at all times of the day.”