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InsideRadio.com reported pharmaceutical companies have ramped up their advertising on network radio, with drug stores and pharmaceutical firms investing $150.9m in the medium for 2022, according to MillerKaplan.
The pharmaceutical segment accounted for $146.3m, up 14.1% year-over-year, while spending by drug stores plummeted 50.7% to $4.6m.
The rise was driven by companies including Pfizer, which spent $62m on network radio in 2022.
Advancements in targeting and supply-side products have made radio a more efficient channel for pharmaceutical advertisers.