Leisure, government, financial services and automotive were the highest spenders as industry sectors in radio ads.
According to a recent report by Radiocentre, commercial radio saw £718.7 million in advertising revenue in 2021, beating the previous high of £713.6 million set in 2018. 2021’s best-ever performance, as per the radio industry body, was fuelled by a 25% YoY rebound from 2020, amid COVID-19.
Digital formats grew at the fastest rate, accounting for nearly 10% of total ad revenue. As more people ventured outdoors and resumed normal activities, ad spend by travel and transportation brands accounted for 87%.
Retail, online automotive marketplaces, and technology brands boosted radio's ad revenue in 2021. Ian Moss, Radiocentre's chief executive notes, “These figures show radio has a really strong foundation to build on.”
[1 minute read]