Apologies: Sometimes we forget to provide a monthly update on the fortunes of the radio business. But we think that’s mainly because the monthly updates we do provide have become depressingly repetitious: Decline, decline, decline. MediaDailyNews:
Radio revenue is expected to drop 8% to 9% in August, according to veteran radio analyst Jim Boyle of C.L. King and Associates–making it the 16th straight month to see radio revenues decline. The consensus on Wall Street is for a 9% decline, according to Boyle, who wrote that radio “seems stuck in a new, discouraging territory,” bedeviled by a secular downturn and worsening economy working in tandem.
… Like other “traditional” media, big radio groups have recently pinned their hopes on rapid growth in Internet radio revenues. However, it still contributes only a small part of total radio revenues
According to the Radio Advertising Bureau, “off-air” revenues–which include Internet radio–grew 10% to $501 million in the second quarter of 2008. However, that’s just 9% of the total $5.36 billion. And the amount of revenue added by Internet radio in the second quarter ($45 million) is dwarfed by the amount lost overall ($343 million).
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