Revenue for radio operators in Ireland up 18% in H1 – Radiocentre Ireland

But Note – Direct Business up 40% and that’s the switch we are seeing now.

From RTE….

“Revenue for all radio operators in Ireland in the first six months of the year was up 18% on the same time last year, according to figures published by Radiocentre Ireland.

The revenue data is based on the actual recorded revenues for each radio station in Ireland.

The report shows that the Irish radio advertising market enjoyed revenues of €74.2m from January to June.

Revenue remained buoyant throughout the period with revenues in January, February and March up 22%, while revenues for April, May and June were up 14% on the same time last year.

The €74.2mn revenue was made up of €60m of spot revenue (radio commercials) which was up 16% for the six month period.

Branded content revenue (sponsorships, partnerships, content solutions) came to €12.9m up 21%, while digital audio revenue was €2.3m for the six months, up 50%.

Revenue from media agencies came to €51.9m, up 10%. Revenue coming directly from advertisers was €22.3m, an increase of 40%.

Ciaran Cunningham CEO Radiocentre Ireland said, “I am delighted to see such strong revenue growth for the radio sector for the first six months of the year. 2022 got off to such a strong start with revenue growth of 22% in Quarter 1 and it is very encouraging to see that this great start was followed up with revenue growth of 14% in Quarter 2.

“Radio listening is booming,” Mr Cunningham said.

“Today’s revenue figures show that advertisers are increasing investment in the medium so that their brands access robust and valuable audiences, in a trusted environment, at all times of the day,” he added.