Radio World reported recently that U.S. radio appears on track for its best year-over-year revenue uptick in a decade. That was based on RAB figures. Now BIA/Kelsey has issued an updated forecast of its own that has a positive tone too.
“On the heels of strong political battles nationwide, increased automotive advertising and an improving economy, the radio industry has experienced a better year than expected and will end 2010 with over-the-air revenues of $14 billion, a 5% increase over 2009,” the research organization stated. (By comparison, RAB’s figures show revenue up 6% year to date.)
BIA/Kelsey also named a number of markets that will see 9 percent or greater revenue increases, including five of the biggest: Boston, Philly, Denver, Miami and Tampa.
The chart shows BIA/Kelsey’s updated five-year forecast for the radio industry.
Stated the company’s Mark Fratrik, “We might be a long way from pre-recession over-the-air revenue numbers, but broadcasters are supplementing those revenues by taking steps to change the landscape by attracting advertisers through online and mobile and also by extending their signals to attract new listeners.”