Radio's overall Q3 result was the best this year, up 1% compared to flat delivery in Q1 and Q2. Year to date performance remains on par with 2012.
The 3rd Quarter uptick was based on a 1% gain in the Spot sector, which represents the largest portion of Radio's revenue base. Digital continues to show robust gains -- up nearly 1/5 -- while Off-Air was up 3%. Network posted a decline of 11% against last year's sales. Year to date, Spot revenue is flat; Digital, Off-Air and Network are +15%, +3% and -7% respectively.
Digital continues its reign as Radio's fastest growing sector. Off-Air activity also remains steadfast, increasing every quarter in 2013. Combined, Digital and Off-Air represent 13% of Radio's total revenue.
"The momentum we saw building at the end of Q2 has definitely translated into a positive Q3 for Radio in many of our Top 10 advertiser categories, led by Communications/Cellular with a healthy 24% increase," noted Erica Farber, RAB President and CEO. "Among key categories, Automotive, Professional Services, Health Care, Home Furnishings, all showed substantial increases, as well. Increases from these diverse ad categories illustrate Radio's cross-platform strength to drive traffic and sales - for large corporations to
"Automotive regained the top category ranking in Q3 but Communications remains as a strong #2 in the field," noted Farber. "We're looking for the holiday season and year-end selling efforts to provide additional momentum to end the year on a positive track."