After a long Conga line of opinionated and less than researched “press” on the supposed decline of our industry, the actual facts once again prove that this dynamic and ubiquitous monster we call Radio just keeps growing!
The Miller Kaplan Arase X-Ray report for June 2013 is filled with good news for Southern California Radio. While overall revenue growth is very encouraging, there is a robust trend line and highlights that demand our collective attention…and applause.
From a YTD comparison, the reporting LA area radio stations posted a solid, overall 2.6% increase. That’s a good growth rate in and of itself, but when you compare it to the same period of 2011 vs. 2012 YTD, when the growth rate was a minus 2.0%, the net 2.6% increase is…impressive.
This story, however, goes much deeper…
In what can only be described as an explosive growth in new business on a YTD basis, Los Angeles Radio sales teams ignored all the “Radio is dead” noise and went out and sold a massive $29,761,112 of new business that was NOT on the air in the first 6 months of 2012!
That’s almost $30 million dollars in the first 6 months of 2013 alone.
30 million dollars…in new business.
The growth in key Radio advertiser categories is equally impressive and speaks to the muscular, steamroller effect of the world’s largest Radio market. These categories just keep growing every month and on a YTD basis they reveal enormous confidence from Southern California targeted advertisers in Radio’s ability to build brand awareness, market share and customers. A few examples of that year over year growth trend include:
- Financial Services – up 36.1%
- Communications/Cellular – up 44.7%
- Education – up 46.8%
- Foods – up 21.9%
- Department and Discount Stores – up 50.4%
- Appliances/Electronics – up 91.4%
- Real Estate/Retirement Communities – up 26.4%
- Lawn and Garden – up 212.9%
- Consumer Products – up 24.6%
- Hotels/Motels/Resorts – up 20.3%
- Transportation – up 11.7%
It’s easy to look at this YTD trend and be impressed. However, for a more up to the minute or month to month investigation, let’s look now at what Southern California Radio has done in just the last 30 days, and see yet another upward trend line that should increase membership in the “Radio Optimist Club” overnight!
From May 2013 through June 2013, the following categories demonstrated month over month increases. Please keep in mind that Cinco de Mayo, Mother’s Day, and Memorial Day weekend were all in May, yet these categories invested even more in LA Radio in June.
- Internet/E-Commerce – up 160.3%
- Computers/Office Equipment – up 108.24%
- Amusement/Theme Parks – up 79.9%
- Beverages – up 39.6%
- Security Services – up 30.44%
- Concerts/Movies – up 18.52%
- Oil and Gas – up 7.2%
- Auto Dealers/Dealer Groups/Rentals – up 3.3%
- Appliance/Electronics – up 5.54%
- Entertainment- Other – up 5.61%
So, our LA Radio business is up by 2.6% YTD with 11 key growth categories surging up double digits and $30 million in new business in the first 6 months of 2013 and 10 big categories showing month to month growth…
Now, about that “Radio is dead” meeting that is cancelled…
The “Radio is Alive and Growing in Southern California” meeting is completely SOLD OUT for the foreseeable future.
Would you like a refund or some humble pie or…both?