Search »

March Radio Revenue Decline Worst since 2001

Radio suffered its worst decline in March since November 2001, with revenues slipping 8 percent.

Radio, already struggling, is beginning to be hit by the weakness of the economy, according to Marci Ryvicker, an analyst with Wachovia (via Radio Ink).

Local revenue was down 8 percent compared to the same month in 2007, with national down 17 percent, writes Radio Online. Local and national together fell 10 percent.

Ryvicker says small-market and large-market radio companies are both at risk to miss their Wall Street forecasts for 2008, by an average of 2 percent. She has reduced her estimate of the industry, down from minus 1 percent to minus 2 percent.

Radio revenue is expected to face a loss of 3.1 percent in 2008, compared to 2007, but 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.