Radio ad spend resilient in first half of 2016

Total radio ad spend grew 2.4% in the first half of 2016 compared to the same period last year, despite economic uncertainty leading up to the EU referendum, according to data published by Radiocentre and included in the latest Advertising Association/WARC Expenditure Report.

Figures for airtime (excluding branded content/ S&P) were less than forecast, but still saw an increase of 0.5% in H1.  Radio adspend is now forecast to increase 1.6% in 2016 as a whole and 0.8% in 2017.

Overall UK advertising expenditure posted 5.2% growth in H1 2016, with adspend reaching a record £9,999m in total for the first six months of the year.  In light of the new data, full year growth forecasts for the UK advertising industry in 2016 have been revised up 1.0 percentage point to 5.2%.  However the forecast for 2017 has been downgraded by half a point to 3.3%, as the impacts of the EU referendum result begin to unfold.

Find the press release here and detail of commercial revenues here.