The Irish radio sector continued to enjoy strong revenues in the first half of 2022, according to the latest revenue data collected by Radiocentre Ireland.
Radiocentre Ireland’s report shows that the Irish radio advertising market achieved revenues of €74.2 million for the period January to June 2022. Revenues remained buoyant throughout the period with revenues at first quarter 2022 up 22%, while second quarter revenue increased 14% compared to the same period last year.
Turnover of €74.2 million is made up of €60 million in spot revenue (radio advertising), up 16% over the period. Revenue from branded content (sponsorships, partnerships, content solutions) amounted to €12.9 million, up 21%, while revenue from digital audio was 2 €.3 million over the period, up 50%.
Revenues from media agencies amounted to €51.9 million, up 10%, while revenues coming directly from advertisers amounted to €22.3 million, up 40%.
According to Ciaran Cunningham, CEO of Radiocentre Ireland: “I am delighted to see such growth in revenues from the radio sector for the first 6 months of the year. 2022 got off to a strong start with 22% revenue growth in the first quarter and it is very encouraging to see that this strong start was followed by 14% revenue growth in the second quarter. Listening to radio is booming, and today’s revenue numbers show advertisers are increasing their investments in the medium so their brands can reach strong, valuable audiences, in an environment of trust, at any time of the day.