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NEW YORK Radio ended 2008 with a 10 percent revenue decline to $16.5 billion. Factoring in off-air and network revenue, radio was down 9 percent to $19.5 billion, according to figures released Friday by the Radio Advertising Bureau.
It’s the third consecutive year of negative growth for a medium that has struggled to regain its place in the media mix.
Sadly, the declines of 2008 may look like the good old days compared to several Wall Street forecasts, which put radio down 20 percent or more for the first quarter, and down 13 percent or more for the year.
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