In April, radio revenue dropped only 1%. By the industry’s sad standards, that constituted a huge victory and a source of hope that maybe, just maybe, things were turning around.
Nope. Revenues “probably dropped about 5% or 6% in May”, according to researchers CL King & Associates. MediaPost:
Radio’s steady decline is beginning to resemble newspapers, an ominous parallel considering the latter medium’s plummeting fortunes. In the first quarter of 2008, radio’s total revenues declined 5%, due mostly to a 7% decline in local and national ad categories. This followed declines in the last three quarters of 2007: 1% in the second quarter, 5% in the third quarter and 4% in the fourth quarter.
A decline in the second quarter of 2008, as is widely predicted, would mark over a year of continuous losses.