As in many other countries, the corona crisis has had a deep effect on the radio industry, but now there are more positive signals.
During the first weeks of the lockdown, advertisers were cancelling their campaigns, and some media companies reported a loss of 90 percent. That led to furloughs in many radio stations, especially among those who rely heavily on advertising. Lots of staff are still working from home.
However, some local radio stations are allowed to broadcast and make money out of radio bingo, which is still popular among listeners that mostly stay at home these days. Some smaller stations reports an increase in income from radio bingo.
In the beginning of the crisis, listening numbers looked like they were down, as fewer people were listening to radio. But, on the other hand those who were listening did so for a longer time, so in total radio listening was never bad.
In week 17, according to the newest official figures, coverage has gone up again almost to "normal" levels, meaning above 60 % daily. At the same time, listener minutes is still high, meaning radio listening in Norway is actually better now than before the crisis started.
Advertising is also recovering and a fresh report suggests that advertisers are becoming more optimistic. 33 % of them now thinks that this crisis will have no negative effect on their business, according to ANFOs Koronatracker. Also, 21 % actually expects a positive outcome.
When it comes to money spending, 4 out of 10 advertisers in Norway expects a normal second quarter, but just as many expects to cut their marketing budget. There are however significant variations between different industries.
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