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With retail growth at its lowest rate in three to four years, and with auto and home-related categories particularly slumping, radio may be looking at declines of as much as 2 percent for 2008.
Radio is dependent on local advertising for 80 percent of its revenue, and local media is more sensitive to retail sales and consumer spending, writes Mediaweek. That could cause radio revenue to slip below $20 billion - excluding nonspot sales - for the first time since 2002, per SNL Kagan.
These are the worst times for radio since the 1950s, when radio faced an economic recession, the Korean War and the advent of TV. Unless the year comes with some surprises, the industry will see its eighth year of slow-to-no-growth, says Jim Boyle, analyst at CL King & Associates.
In December, a Wachovia analyst said that zero growth may be the best-case-scenario for the medium.
Radio stations in the U.K. reacted with outrage when they learned of a report by researchers from the University of the West of England which accused them of promoting excessive drinking.
The study looked at 1,200 hours of radio output,…
General Motors posted sales of 308,817 vehicles in August. That’s a drop of 20 percent from August of last year - but 31 percent better than July.
In order to boost sales as much as possible during a time when…
A new digital out-of-home network to reach golfers is launching to 100 retail locations in the next two months. The network will be available in Dunham’s Sporting Goods, Golf Etc., Golf USA, Pro Golf, and ParMasters, among others.
Fox says that viewers’ attention to commercials is higher when fewer commercials are aired. The revelation comes as a result of testing the network has done for its freshman thriller, Fringe, which will premiere Sept. 9 with limited commercials and shorter…
Worldwide sales of mobile phones will reach 1.28 billion units in 2008 - up from 1.15 billion units in 2007 - an 11 percent increase from last year, according to Gartner, Inc - (via MarketingCharts).
While the mobile phone market is poised for…
Consumers in all income segments are cutting back spending, and doing so to a greater extent recently than at the beginning of the second quarter, according to a comScore study examining changes in consumer attitudes and perceptions about the U.S. economy…
