The Irish radio sector has continued its strong performance into September 2022, according to the latest figures published by Radiocentre Ireland.
According to the industry body, the Irish radio advertising market enjoyed revenues of €110.5m for the January to September 2022 period. This was made up of €87m in spot revenue, an increase of 9% for the period while branded content revenue (sponsorships, partnerships, content solutions) came to €20.1m, up 17%. Digital audio revenue, meanwhile, was €3.7m for the period, up 53%. The digital audio revenue is made up of revenue from Irish radio operators, it does not include revenue from global audio players such as Spotify or Acast.
This represents a growth of 12% for the sector, according to Ciaran Cunningham, CEO, Radiocentre Ireland and it compares very favourably with the total Irish advertising market which is estimated to have grown by 6% over the same period.
“Broadcast radio delivers a shared experience, and a sense of community as people collectively listen to the same content at the same time, which is very powerful and becoming increasingly scarce in today’s fragmented media landscape,” he says.
“And the strong growth in digital audio allows advertisers to communicate in an intimate one-to-one environment, but with all the tracking, targeting, behavioural and contextual opportunities that you get from visual digital activity. It is great to see that advertisers understand the power of audio, are investing strongly in the medium reflected in the 12% growth recorded year to date, which is significantly ahead of growth for the total advertising market, estimated at 6% for the period.”