BIA Lowers 2009 Forecast
June 4, 2009 at 1:52 PM (PT)
BIA ADVISORY SERVICES has lowered its revenue projections; they're now predicting that revenues will decline 15% from 2008 to approximately $14 billion. In MARCH, BIA forecasted a 10.6% drop in 2009.
If there's a silver lining here, it's that the BIA believes that the business has hit bottom -- and that the end of 2009 won't be as bad as Q1 2009. "Facing this calamitous situation, radio has shown agility by adjusting its programming and how it's delivered, and listeners are responding," BIA VP MARK FRATRIK told MEDIAWEEK. "These adjustments could translate into a viable way of attracting advertisers and showing them positive returns on investment."