When you add it all up, the RAB is reporting that 2014 radio revenue was down 1% over 2013. Spot revenue was down 3% year over year and network was down 4%. Digital and off-air both posted gains, leveling out the overall numbers. Digital was up 9% and off-air showed impressive gains, up 16% over 2013.
RAB's President and CEO Erica Farber noted on the report, "Radio held its own in 2014 with Radio revenue remaining steady despite an economic climate which saw some businesses tightening their spending in Q4 due to reduced consumer confidence." Farber also addressed the increases in digital, "Digital revenue growth indicates that Radio is meeting marketers' growing commitment to reach consumers via all digital ad channels, and this continued growth confirms Radio's position as a true marketing partner."
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