In its latest “State of the Industry” report, BIA/Kelsey says radio will be fourth in the race for 2014 local advertising dollars. Despite its dramatic fall from grace with consumers, newspapers will still outbill radio, with BIA/Kelsey projecting print will take in 16.1 percent in 2014. Direct mail is number one in the report, with 27.1 percent and TV is third with 14.9 percent.
BIA/Kelsey Chief Economist Mark Fratrik says, As we move toward 2014, it’s clear the radio industry has adapted to incredible competition from all sides, with streaming and other audio competitors taking audiences. Yet local radio is surviving, and in some instances, thriving, and poised to compete well in the new marketplace. Radio is also beginning to deliver other compelling digital services that help its local advertisers navigate promotional opportunities. With the right attitude towards the new reality of increased competition and strategic planning, local radio stations can prosper.”
“Local Radio Stations Profiles and Trends for 2014 and Beyond” is presented as a 65-plus-page report and a companion presentation. The report includes the following analysis and information: · Revenue history of local radio stations · Overall industry growth · Competitive threats to local radio stations · Revenue share by format · Radio’s position in the new media marketplace · Radio advertisers and competition for advertisers · Radio’s share with advertiser and business categories · Technology changes in radio Industry · Consolidation in the industry · Digital sales transformation playbook