Speakers at the Kagan Radio/TV Values & Finance Summit in New York said local broadcasters are starting to receive sizeable benefits from the next wave of media development after taking knocks from upstart digital media.
Kagan Research forecasts that radio and TV stations will generate $1.7 billion in 2007 revenue from online sources, including station-owned Web sites, multicast channels in digital broadcasting, podcasting and station content monetized on third-party platforms such as wireless broadband media.
Kagan says tapping new-to-broadcasting advertising money is crucial because ad revenue from traditional advertising is trending flat to slow growth. It estimates new media revenue contributed to 2.7 percent of all ad revenue at radio and TV stations.
More on the study is available here.