The talk radio station is considering increasing its rates by 20% from July 2009 as demand for advertising exceeds supply.
“We are in a position to increase our rates because 702’s audience figures have improved, as has the impact of the station, and the demand for advertising has grown to the point where demand is now exceeding supply,” says Terry Volkwyn, CEO of Primedia Broadcasting.
“It is important to note that this is not an official increase yet, but 20% is the figure we have taken to the industry to prepare them for an increase.
“So far, the advertisers we have approached about the proposed increase are in agreement – they enjoy good response from the platform that we have and are willing to accept this increase – particularly in light of the growth of the brand, audience, and response they achieve.”
If implemented, the rate increase will be effective from July 2009.
The station currently has a listenership figure of 506,000 (November 2008), up from 360,000 (November 2007), according to the South African Advertising Research Foundation’s Radio Audience Measurement Survey.
According to information from AC Nielsen the station secured R54-million in adspend in September 2008.