Photo by A new report from Radiocentre Ireland shows Irish radio broadcasters enjoyed advertising revenues of €38.9 million for the January to March period, up 6% on the same period last year.
Total revenue was made up of €30.8 million of spot revenue, which comes from radio commercials, up 6% compared to the same period last year.
Branded solutions (sponsorships, partnerships, content solutions) came to €6.4 million, down 1%, while the rapid growth in digital audio revenue continues, with the category recording revenue of €1.7 million, up 49% for the period.
This year's growth comes on top of a very strong performance during the same period last year.
The Irish radio sector has seen a 29% increase in revenue between January – March 2021 and January – March 2023.
Ciaran Cunningham CEO Radiocentre Ireland said:
“It is great to see a strong start to the year following on from such strong revenue growth in 2022. At a time when radio ratings in the U.S. among 18–49 year olds now exceed TV for the first time in U.S. media history, advertisers, home and abroad, continue to recognise the unbeatable reach that broadcast audio provides for their brands. And the strong growth in digital audio reflects advertisers’ 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”
