Mediaweek
Radio revenue remained stuck on the bottom in second quarter, leading industry pundits to declare that a low point had been reached. Local and national advertising was down 25 percent to $3.4 billion in second quarter, according to figures released late Friday (Aug. 21) by the Radio Advertising Bureau.
Other radio segments performed better than radio’s core in second quarter, with network radio down 10 percent to $274 million. Off-air revenue declined 13 percent to $355 million. The only segment posting positive numbers in the quarter was digital, up 9 percent to $120 million. Combined, radio revenue dropped 22 percent to $4.2 billion.
“We are most likely past the Q1 low point for radio revenues and are now on the rebound,” said Jeff Haley, president and CEO of the RAB, which itemized only radio’s positives in its quarterly report. More…