Radio's First Quarter: Flat

Radio's First Quarter: Flat
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Radio's revenue picture remains less than scintillating. The RAB says U.S. commercial radio revenue fell 1% in March compared to the same month a year ago. National dollars edged up a percentage point, and local revenue was off 2%.
For the year to date, radio's grand total of all spot and non-spot revenue is flat. Local sales for the year, through the end of March, were off 2%, national business was up 3% and non-spot revenue was up 9%.
Analyst Marci Ryvicker of Wachovia Capital Markets says the March radio revenue figure was slightly below her flat expectations. She also said the stronger relative performance of national radio business in recent months may be waning.
And she said of radio financial reports so far, "This earnings season is nothing to write home about. ... We attribute current softness to lack of demand, declining cost-per-point and a weak auto category."

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