Rebound Of Revs In Small and Mid-Sized Markets Projected
June 5, 2008 at 12:22 PM (PT)
While large radio markets across the country continue to struggle, small and medium-sized markets are showing slight gains in revenue and the promise of faster growth than the top-10 markets, according to the estimates of BIA FINANCIAL NETWORKs. BIAFN's second edition of the quarterly Investing In Radio Market Report shows that the radio markets ranked 11th and higher will see better revenue growth quicker from the slump in the radio industry due to local advertising support, differences in competition, and their audience's embrace of technological improvements.
Based on observations of the marketplace, BIA FINANCIAL NETWORK expects the small and mid-sized radio marketplace to reach revenue levels equivalent to 2007 by 2011. This time frame is two to three years before large markets will rebound to that level.
"The trend towards revenue increases in the small and mid-sized radio markets are significant because they indicate that advertisers in these smaller regions continue to find radio to be an effective medium to reach consumers," said VP MARK R. FRATRIK, . "Listeners are also beginning to respond favorably to the digital innovations their favorite stations are making through multicasting and live audio streaming, enhanced websites, and HD Radio."