BIA/Kelsey: Radio Will Grow Over The Next Five Years
2009 Was Rough As Radio Dropped 18.4%
March 24, 2010 at 4:31 AM (PT)
Radio had revenues of $13.7 billion in 2009, according to the latest report for 2009 by BIA/KELSEY, a drop of 18.4% from 2008 -- even lower than the $16 billion estimate by the RAB last month.
While 2009 was nothing but bad news, VP MARK FRATRIK is forecasting a five-year rise coming for radio, and wrote, "While the poor economy held it down momentarily, radio is coming back to demonstrate that it is an important advertising vehicle, particularly in local media markets. The industry will continue to grow its online revenues in 2010 as increasingly more progressive radio groups recognize they are more than just over-the-air transmitters."
Radio is coming back to demonstrate that it is an important advertising vehicle, particularly in local media markets.
Here Comes Some Good News
BIA/KELSEY has broadcast revenues rising from $13.3 billion in 2009 to $13.5 billion in 2010, then $13.7 billion in 2011, $14.1 billion in 2012, $14.6 billion in 2013 and finally to $15.1 billion in 2014.
Including online revenues -- this figures jump to $13.7 billion for 2009, $13.9 billion in 2010, $14.3 billion in 2011, $14.7 billion in 2012, $15.3 billion in 2013 and $16 billion in 2014.
The forecast draws from proprietary data; company, industry and country information in the public domain; and discussions with clients and non-clients about the direction and pace of development in the local media marketplace. Elements of this forecast are updated periodically during the calendar year.
View a full sized chart here.