Radio ad revs on rise in ’93

The radio industry last year turned in its best performance since 1985, according to figures released Tuesday by the Radio Advertising Bureau.

Radio advertising revenue last year grew 9.3% to $ 9.5 billion from $ 8.7 billion in 1992, the bureau reported.

Locally placed advertising, which accounts for roughlythree-quarters of all radio ad revenue, jumped 9.2% in ’93, while national spot grew 10.2% and network rose 8.1% for the year, according to the RAB.

RAB president Gary Fries said that early indicators signal a strong 1994, with revenue growth on par with that of last year.

National spot revenue, which experienced a 6% decline in 1992, posted double-digit growth in ’93. The biggest increase came in December, when revenues were up 20%.

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