A report released by Radiocentre Ireland shows that the Irish radio advertising market has enjoyed revenues of €110.5M for the January to September 2022 period.
This equates to an overall increase of 12% from the same period last year, growing ahead of the total advertising market in the Country.
? Stat of the day: Radio increases ad awareness by 46% for brand led Retail campaigns.
➡ https://t.co/7s3exo2thK pic.twitter.com/timsH0ceVi
— Radiocentre (@Radiocentre) October 28, 2022
The revenue was made up of €87M of spot revenue (radio commercials) which was up 9% for the period.
Branded content revenue - which consists of sponsorships, partnerships and content solutions - came to €20.1M, up 17%, while digital audio revenue was €3.7M for the period, up a staggering 53%.
The digital audio revenue is made up of revenue from Irish radio operators and does not include revenue from global audio players, such as Spotify or Acast.
Speaking about the figures, Ciaran Cunningham, CEO of Radiocentre Ireland, said: "Broadcast radio delivers a shared experience, and a sense of community as people collectively listen to the same content at the same time, which is very powerful and becoming increasingly scarce in today’s fragmented media landscape.
"The strong growth in digital audio reflects advertiser's ability to communicate in an intimate one-to-one environment, but with all the tracking, targeting, behavioural and contextual opportunities that you get from visual digital activity.
"It is great to see that advertisers understand the power of audio, and are investing strongly in the medium reflected in the 12% growth recorded year to date, which is significantly ahead of growth for the total advertising market.
