With last week’s bulletin reporting significant economic growth from Q2 of this year, this week we wanted to look at the role radio can play in helping brands ensure they get their share of revenue from the increase in consumer demand.
According to new Re-Evaluating Media for Recovery research from Ebiquity and Radiocentre Radio is one of the best performing media to help brands recover from a recession.
Over one third of advertisers (34%) are planning to invest more in radio in 2021 when compared to pre-COVID 2020 budgets. This shift is the highest for any traditional medium according to the study.
Despite the positive move media decision makers still underestimate the time audiences spend listening to radio and overestimate the time spent listening to podcasts or steaming. The research found that they believed listeners spent 58% of time listening to radio, 26% with on-demand music and 16% on podcasts. The evidence from RAJAR MIDAS revealed very different results – live radio actually made up 84% of listening time, with on demand making up 9% and podcasts 8%.
Radiocentre Planning Director Mark Barber said “We are pleased to see perceptions of radio come closer to the truth and that media spending intentions show radio is in line to get more investment from advertisers wanting to ensure their brands bounce back from recession.”
67% of Advertisers will increase or maintain their radio spend across 2021
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