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Radio advertising revenue increases 5% in Q3

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New York—Radio advertising revenue continued its upward trajectory in the third quarter, according to figures released Friday by the Radio Advertising Bureau.

Local and national radio advertising revenue increased 5% from the year-earlier period, to $3.7 billion. Local and national radio advertising revenue also increased 5%, to $10.4 billion, for the first three quarters of the year.

Overall spending on radio, which includes network, digital and off-air spending in addition to local and national spending, increased 5% in the third quarter, to $4.5 billion. For the first three quarters of the year, overall spending increased 6%, to $12.7 billion.

The largest category of advertising spending for the first three quarters was communications/cellular, which totaled $1.2 billion, a 10% increase over the same period in 2009. The category which posted the largest percentage gain in that same time frame was financial services, which increased 28% to $953 million.

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