A new study from Borrell is predicting that radio's "turning the corner" in digital ad sales, with a forecast of $420 million in total local online ad revenues for 2013. In a survey of 1075 stations, 17% indicated that the expected their local online revenues to grow more than 30% this year.
The gains, however, are not evenly distributed. Over half of the radio stations and clusters reported online revenues of less than $250,000 in 2012, while the upper 3.4% reported online ad revenues of at least $3 million. And while hopeful, the growth in online ads revenues in radio (14%) fall well below the overall growth rate for local online advertising (30.8%). And local online remains a minor revenue source for radio, reaching 2.5% of radio ad revenues in 2013.
Source - Radio's Local Online Ad Revs Rocket 14%, MediaDailyNews