Total revenues were up 5% in 2015 in the nation’s No. 1 radio market, per Miller Kaplan Arase data, led by growth within the communications, healthcare, and food and beverage categories.
“Virtually every category imaginable is represented among the over 200 new advertisers to New York radio,” said NYMRAD executive director Debbie Beagan, noting that spending by each of the new accounts exceeded $25,000 during 2015. “In fact, 26 of these new advertisers invested over $300,000 each in their radio ad spending, demonstrating strong advertiser confidence in radio.”
While automotive continues to lead the way among product categories, wireless carriers increased their spending by 10% for the full year 2015 and public utilities by 22%. Virtually every category was represented among the over 200 new advertisers to New York Radio in 2015. Each new advertiser spent at least $25,000 with 26 investing over $300,000 within the calendar year.
The research has also offered great proof that Radio has the greatest rate of return. Compared to every other advertising medium, every $1.00 devoted to Radio advertising can generate up to $17 of revenue per listener exposed to the message. Department stores ($17) saw the largest payback followed by mass merchandisers, ($16.37), home improvement ($9.48), and quick-service restaurants ($3.01).
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Radio listening in New York mirrors national stats, with more than 90% in the market dialing in each week. The average New York listener is tuned in for more than 9 hours per week; the most popular radio formats are hot AC (11.1%) and top 40 (8.6%).
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