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Radio revenue, expected in 2008 to face a loss of 3.1 percent compared to 2007, may stage a return to positive revenue growth in 2009 thanks to a better economy and digital revenue streams, according to a new forecast from BIA Financial Network.
A loss in 2008 will be the second year of declining revenue in a row; 2007 saw a loss of 2.3 percent, to $18.1 billion, writes MediaPost.
Small and mid-size markets are actually seeing revenue growth, driven by local advertising.
While digital revenue streams are expected to help boost radio’s growth in 2009, Wachovia analyst Marci Ryvicker wrote in a recent roundup that, “We are at least five (if not 10) years away before new media/digital opportunities have any financial significance in the broadcast space.”
One estimate puts internet radio revenues at just $500 million for 2007.
(For additional info, including graphs, see coverage by MarketingCharts.)
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