TORONTO – National radio ad sales grew 6% in the fiscal 2007 broadcast year, and the first quarter of 2008 was also strong, according to data released Monday by the Canadian Broadcast Sales.
“This year’s growth of 6% built on last year’s growth of 6.4% clearly illustrates the continuing strength of radio,” said CBS president Patrick Grierson. “Results were largely driven by Ontario’s 15.3% growth, while British Columbia was up 7.4% and Alberta rose 6%.
The first quarter of fiscal 2008 registered a further 6.5% in bookings, according to CBS.
In 2007, the top six categories accounted for 62.5% of all spending: retail $25.5 million (16.9%), automotive $18.3 million (12.17% down from 14.9%), telecommunications $17.05 million (11.31%, up 23% from last year), financial services and insurance $13 million (8.7%), beverage/alcohol $10.3 million (6.9%) and restaurants $10.1 million (6.6%).
“The retail sector is hot and has become competitive since Walmart’s arrival, forcing other major retailers to respond, and radio has played an important part in the advertising mix,” said Grierson in a statement. “While automotive was down slightly, we expect strong results in this sector with new product launches and competitive pricing. Telecommunications posted the largest increase last year and that performance should be sustained by a steady stream of new product introductions.”
A national sales firm representing approximately 60% of all private Canadian radio stations, CBS provides the broadest single industry measure of national radio sales. Its clients include Corus, Rogers, Astral, Cogeco, Newcap and Rawlco.
