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NEW YORK Dependent on local advertising for 80 percent of revenue, radio will need to pull out all the stops to offset projected declines of up to 2 percent, say experts. “Local media are more economically sensitive to retail sales and consumer spending,” says Jon Swallen, svp, research at TNS Media Intelligence. “A couple of key categories—auto, home—are in the dumps right now, and that’s affecting the volume of ad spend.”
For the first time since 2002, radio revenue could slip below $20 billion, excluding nonspot sales, per SNL Kagan.
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