RAB reports 3% revenue drop
Radio’s Q2 ’14 revenue performance was moderate, down 3% (to $4.536 billion) from the same period last year based on diminished Spot activity. Spot declined 5%, tempering respective gains of 13% and 9% from the Off-Air and Digital sectors and flat Network spending. Q2 represents the third consecutive quarter in which Radio has seen double-digit growth in Off-Air revenue.
First-Half results were flat (-1% overall) as double-digit increases in Off-Air (+15%) and Digital (+12%) helped offset 3% dips in both Spot and Network.
“Based on pacing and industry insights, we anticipated a relatively flat to down Q2,” stated Erica Farber, RAB’s President and CEO. “While we don’t forecast, a greater percentage of Radio’s total annual revenue historically comes through in the second half, and we’re anticipating that we’ll see better results by the end of this year.”