Commercial radio boosts Yorkshire economy by £150m

Commercial radio boosts Yorkshire economy by £150m
Credit: Shutterstock.com/ Branislav Nenin

Commercial radio in Yorkshire has boosted the local economy by more than £150 million in terms of the return on investment enjoyed by local advertisers in the region, according to economic analysis by the industry body for commercial radio, Radiocentre.

Radiocentre’s regional ROI analysis is based on local advertising revenue – including a proportion of brand content and regional commercial radio listening hours (RAJAR ITV regions).

It is also underpinned by Radiocentre’s ROI multiplier research, which shows that brands using commercial radio in the UK get their money back nearly eight times over on average and, in many sectors, radio offers the best ROI on any media.

The analysis – detailed in Radiocentre’s Valuing Radio report to be published in November – demonstrates how commercial radio is fast-emerging as one of the heroes of the booming Northern economy.

Yorkshire accounts for 9.3% of overall commercial radio listening in the UK compared to London, which accounts for 22.2%; the Midlands, 13.9%; and the North West, 10.7%.

The five largest radio advertisers in the region by spend were Ebay, McDonalds, Sky, Aldi, and Asda over a 12-month period from August 2017 to July 2018, Nielsen figures show.