Borrell: Radio's Local Online Ad Rev. Up 16% in '08

Radio industry investments in online initiatives paid strong dividends last year, according to a new survey of local Web site revenue released Friday (May 1) by Borrell Associates. Radio stations posted another double-digit growth year, building their local Web revenue from $189 million in 2007 to $220 million this year, an increase of 16.4 percent. Borrell, which analyzed local revenue for 1,994 radio station Web sites, projects 26 percent growth for 2009, which would bring the industry to $277 million in local online advertising.