Radio advertising increased by 6% in the in the first three months of 2023 according to new figures published by Radiocentre Ireland.
According to the figures, €38.9m was invested in advertising during the period. This was made up of €30.8m in spot revenue, an increase of 6pc on the same period last year while branded solutions, including sponsorships, content solutions and partnerships, amounted to €6.4m, down 1% while the rapid growth in digital audio continued apace, rising 49% to €1.7m.
“It is great to see a strong start to the year following on from such strong revenue growth in 2022,” says Ciaran Cunningham, CEO of Radiocentre Ireland.
“At a time when radio ratings in the U.S. among 18–49-year old’s now exceed TV for the first time in U.S. media history, advertisers, home and abroad, continue to recognise the unbeatable reach that broadcast audio provides for their brands. And the strong growth in digital audio reflects advertisers’ ability 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,” he adds.