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Based on radio’s first-quarter performance as reported by radio groups and other sources, BIA/Kelsey Thursday (May 27) revised its forecast for the year, up more than 2 percentage points. The researcher now expects total radio revenue to get as high as $14.21 billion, a 3.7 percent gain.
In March, BIA/Kelsey called for radio to inch up just 1.5 percent to $13.9 billion.
The forecast is still a conservative one for a business that saw double-digit declines last year.
“We’re confident that there is still a lot of room for growth in radio, but it will be a slow and steady rise that shouldn’t be measured by the results of a single quarter,” said Mark Fratrik, vp of BIA/Kelsey.
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