Liquor, Financials to Be Hot in Radio
RAB President Gary Fries expects the best prospects for radio advertising in coming months will be in the areas of financial services, health care, telecomm and entertainment.
Another area with great potential is hard-liquor advertising, which is beginning to show up in the revenue reports of large markets. This category eventually could rival beer ads on radio, which bring in $100 million a year, Fries said.
He made the comments during the RAB convention in Orlando. U.S. radio revenue was down in 2001 by 7 percent, to $18.3 billion, still the second-highest year on record.
"Remember that many forecasters predicted a double-digit decline for radio in 2001; to be down only 7 percent is pretty remarkable," Fries said.