BIAfn: 2007 Radio Revenues Down
April 9, 2008 at 5:04 AM (PT)
BIA FINANCIAL NETWORK reports that radio revenues fell 2.3% in 2007 and projects that revenues will fall as much as 3.1% in 2008. BIAfn's INVESTING IN RADIO reports radio revenue of $17.9 billion in 2007, off from $18.1 billion for each of the previous three years. However, BIAfn is also projecting a rebound in 2009 with an improving marketplace.
The report shows that the top 5 markets for revenue were LOS ANGELES ($1.1 billion), NEW YORK ($755 million), CHICAGO ($555 million), DALLAS-FT. WORTH ($416 million), and ATLANTA ($398.5 million). Small and mid-sized markets are showing signs of retained strength based on strong local revenue, with WILKES-BARRE, DES MOINES, and POUGHKEEPSIE cited as examples of markets showing growth.
"While it has been a rough several years for radio the efforts it is making to engage its listeners online and through the digital airwaves will hopefully come to fruition in the next few years," said BIAfn VP MARK R. FRATRIK, Ph.D. "If slow and steady wins the race, then the radio industry will prove its continued value as it begins rolling out new programming and offerings to its vast listenership."
Also in the report, BIAfn says that station sales were paced by sales in medium and small-market radio and unrated markets. "Transactions in 2007 demonstrated continued strategic repositioning in the market by stations and ownership groups," said FRATRIK. "Most recognize the potentials for future growth and are positioning themselves now in markets and regions where they see long-term station values."
CBS Alternative KROQ/LOS ANGELES led all billers in 2007 with $67.6 million, according to BIAfn, followed by CLEAR CHANNEL Top 40 KIIS/LOS ANGELES, CLEAR CHANNEL AC WLTW/NEW YORK, CLEAR CHANNEL Talk KFI-A/LOS ANGELES, CBS News WINS-A/NEW YORK, CBS Adult Hits KCBS-F (93.1 JACK FM)/LOS ANGELES, CLEAR CHANNEL AC KOST/LOS ANGELES, CBS News WCBS-A/NEW YORK, CLEAR CHANNEL Top 40 WHTZ (Z-100)/NEW YORK, and BONNEVILLE News WTOP/WASHINGTON.