That’s according to the just-released New York Market Radio Report for Q1. The report says that the New York City economy is thriving, and that means companies have the budget for advertising.
The private sector job count in New York City increased by 62,000 jobs (1.7%) and unemployment has fallen by 1% since the end of February of last year. The report also says that radio listenership in New York City is up 1.45% from December, 2016, to January, 2017. There are 16,350,800 radio listeners in New York as of Spring 2017, according to the NYMRAD report.
Advertising on Radio works
The NYMRAD report states that advertisers received incremental sales increases ranging from $9.48 to $23.21 for every dollar spent on their radio campaigns. “Retail stores earned $23.21 in sales for every one dollar spent on radio advertising, followed by department stores and mass merchandisers, who received $17.00 and $16.37 respectively for every dollar spent. Advertising across a variety of channels, including radio, in an ad campaign can increase purchase intent by 90% and brand perception by 68%.
No fake news on local radio
The report also says that radio listeners trust the news that they hear on the radio. “Sixty-eight percent consider radio trustworthy, whereas only 25% of those who get their news on social media deem it to be trustworthy. The majority, 88% of Republicans and 89%% of Democrats, believe it’s not likely that they will encounter fake news on local radio. And that trust in local radio benefits advertisers, as listeners will transfer that trust in their local radio station’s news reporting to their advertising.
Read the entire report HERE.
