Radio revenues from local online advertising increased by 22% last year to $370.7 million, slightly outpacing overall local online advertising growth of 20%, according to a study conducted by Borrell Associates on behalf of the Radio Advertising Bureau. Radio still accounts for just 2% share of the local online advertising market, which is largely controlled by pure play companies (46.2%) and newspapers (23.6%). Still, almost three-quarters of station managers believe that the internet holds significant potential for their stations.
In a recent report, the RAB revealed that radio’s digital revenues grew by 8% in 2012, suggesting that the local online ad market is growing faster than the overall market. Read the rest at MarketingCharts.