Clear Channel Radio’s Online Ops a Bright Spot
August was Clear Channel Radio online division’s biggest revenue month in history. The radio group’s online ops have posted about 20% growth year-over-year in the first part of 2008, a bright spot in the dismal radio ad industry.
Across the radio industry at large, off-air revenues, which include online, suffered a slowing of growth in the third quarter of 2008, per the Radio Advertising Bureau (viaMediaPost).
Clear Channel Radio’s web revenue is expected to reach $70-$80 million by the end of the year, say observers with knowledge of the online radio marketplace.
The company holds over 900 station websites and has pursued an aggressive multimedia strategy that embraces online video content, streaming audio and on-demand options.
Evan Harrison, pres of CCR’s online division, says that third-party research from the Radio Advertising Effectiveness Lab shows a jump in ad recall - from 7% to 16% - when consumers hear the one-two punch of ads on broadcast radio combined with ads on online radio.
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