The final listening figures for radio before the lockdown kicked in cements its reputation as a strong medium resilient to so many of the threats many people in the past expected would hammer it.
Indeed, commercial radio saw its reach rise above the 36 million mark once again, proving there’s always space for ad funded media even when you have a powerful and enduring proposition from the BBC. However, the big question here, is what lockdown will do to the listening figures, and what the ad slump will do to the revenues.
The deterioration of advertising trade is expected to be focused primarily in the second and third quarters of this year, though the aftershocks are expected to last into the fourth and early 2021.
Martin Vinter tells Mediatel:
As with the current advertising sector de facto, the industry-wide advertising slump is hurting radio media owners,”.
However, Martin says as we move towards a much needed inflationary market again, it is key that advertisers remain “budget-agile” and keep a keen eye on opportunities in radio.
As the situation unfolds – and we slowly edge towards pre-COVID-19 market conditions – taking advantage of the strong radio value proposition is an attractive one to advertisers big and small.”
To read the article in full in Mediatel, click here.
First featured 22/05/2020.