BIA: Radio Revenues to Continue Decline in 2009
Dec 2, 2008 11:50 AM
Chantilly, VA - Dec 2, 2008 - By the end of 2008 the radio industry will have experienced its second year of station revenue losses to -7 percent, according to the estimates of BIA Advisory Services. BIA's fourth edition of the quarterly Investing In Radio Market Report also states that 641 stations have been sold in transactions valued at $698 million from January through October 2008, which is a -34 percent change from the same period in 2007 in the number of stations sold and a -44 percent in the value. When the year ends, this will be the lowest level since 1992.
BIA estimates radio station revenues will hit $16.7 billion in 2008, the lowest in more than five years and the beginning of a downward spiral that will go as low as $15 billion next year before possibly rebounding in the next decade. Investing In Radio Market Report predicts that revenue percentages will fall to -10 percent in 2009, but there is a chance for positive growth by 2010.
More information is included in the fourth edition of the Investing In Radio Market Report published by BIA, which profiles all 299 radio markets.