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The radio business just can’t seem to catch a break. On-air revenue for first quarter fell 7 percent to $3.8 billion. Even factoring in network radio revenue, which grew 7 percent to $274 million and off-air revenue (which includes online), up 15 percent to $388 million, revenue was down 5 percent to just under $4.5 billion.
Local spot, radio’s bread and butter, slid 6 percent to $3.1 billion. In stark contrast to network radio, which is gaining favor among advertisers for its ability to split copy down to the station level, national spot is hurting, down 11 percent to $649 million.
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