Despite some healthy increases in political, radio revenue plummeted to new depths in third quarter.
According to estimates released late Friday (Nov. 21) by the Radio Advertising Bureau, local and national on-air revenue dropped 11 percent to $4.2 billion. Even network radio, a segment which has defied the rest of the business the first half of the year, was down 3 percent to $285 million. Off-air revenue, including online advertising, remains positive, but that business too moderated from double digit increases to an increase of 5 percent to $458 million.
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