The ad spend for Internet radio in 2009 will hit $260million, according to a new report by eMarketer. This is in contrast to broadcast radio, which is, as we all know, suffering the steepest spending declines in its history. The report predicts the radio industry will see an 18% drop in revenues from last year. Meanwhile, spending on Internet radio is increasing – moving from $200million in 2008 to $260M in 2009, and projected to hit $351M in 2011.
According to Arbitron Edison the Internet radio audience is now 42 million weekly (12+), up from 33 million in 2008, and eMarketer notes that an expanding number of ways to listen to online radio is driving that audience growth. Smartphones and wifi enabled devices have moved Internet radio away from the desktop and into pockets and even cars in the last year.
Benefits for advertisers, according to the article, include more-targeted advertising and a more educated audience with higher income and a greater chance of being employed. Mobile will bring still more opportunities by offering streaming radio on the go via phones and other connected portable devices.
There’s not a lot of new information in this report, but there are a couple of nifty graphs, and its an article that gets its facts right – starting with the headline Internet Radio Revs Up, which of course has a nifty double meaning..