One day after the recession was officially declared, BIA Advisory Services, a subsidiary of BIA Financial Network, delivered a somber forecast for the radio business. For the second consecutive year, radio revenue is expected to drop 7 percent this year to $16.7 billion, the lowest total in more than five years, BIA reported Tuesday (Dec. 2). And that’s not even the bottom.
Next year radio revenue could plummet 10 percent, going as low as $15 billion.
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