Economy tunes into £150m radio injection

Commercial radio in Scotland has boosted the economy by more than £150 million, according to a new report.

Valuing Radio is the first study of its kind by the All-party Parliamentary Group (APPG) on Commercial Radio. It arrived at the £150m boost to the Scottish economy based on the return on investment enjoyed by local advertisers.

The report revealed that for the UK as a whole the return on investment of commercial radio for local advertisers is estimated to be £1.6 billion annually, while stations raised some £30m for charitable good causes in 2018.

Siobhan Kenny, chief executive at trade body Radiocentre, said: “Commercial radio is fast emerging as one of the heroes of the economy in Scotland.

“This new report underlines the sector’s vital role in society, particularly when it comes to times of national emergency. Now the industry needs to work together with government and the regulator to ensure this success continues long into the future.”