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U.S. markets recover from steep losses
LOS ANGELES, Feb. 18 (UPI) -- Advertising revenue taken in by U.S. radio stations in 2011 grew to $17.4 billion, an industry trade group said.
Revenue rose by 1 percent over 2010 and grew for the second consecutive year, the Radio Advertising Bureau said.
The Hollywood Reporter said Saturday that radio stations are predicted to take in 7 percent of the $5.6 billion in political advertising that is expected to be spent during the 2012 election cycle.
A trade group spokesman said the radio industry earned about $200 million for political ads run in 2011.
But the biggest winner for radio advertising came from the automotive industry, which spent $2 billion in 2011 for radio air time. Second on the list of advertisers was the television industry, which spent $1.4 billion on radio ads in 2011, up 6 percent from 2010.
The biggest company spenders in the year were AT&T, McDonald's and Comcast, the Reporter said.
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