Back in January, reports in Mediaweek suggested a slight upturn of 2-3% in local radio revenues for this year. Now that 2010 is well underway, executives such as Stu Old at Katz Media say that overall radio revenue could be up as much as 19% for the first quarter when compared to last year.
Local TV and radio station operators have some small reasons to cheer about in 2010. The business outlook is predicted to remain difficult but analysts expect gains of between 2 and 3% in these industries this year. Where will the gains be realized? Writing for Mediaweek, Katy Bachman compiled the following information.
Radio station operators have encountered the same threat as other traditional media companies when it comes to their income streams – a shift by advertisers to trendier online media properties. In response, some radio station companies are moving to the online format which presents a growing opportunity. Research concern SNL Kagan predicts that online radio revenues, which should reach $441.4 million or 2.7% of the industry total this year, should grow to $827 million by 2013.