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BIA/Kelsey Revises Radio Industry Revenue Estimate for 2010
Chantilly, VA - Nov 30, 2010 - On the heels of strong political battles nationwide, increased automotive advertising and an improving economy, the radio industry has experienced a better year than expected and will end 2010 with over-the-air revenues of $14 billion, a 5 percent increase over 2009, according to BIA/Kelsey. In the fourth edition of BIA/Kelsey's quarterly Investing In Radio Market Report, the company also cites more than 13 markets that will have 9 percent or greater revenue increases this year, including five top markets: Boston, Philadelphia, Denver, Miami and Tampa.
"The radio industry has proven it remains an important component of the advertising mix by reaching local audiences in all demographic ranges," said Mark Fratrik, Ph.D., vice president, BIA/Kelsey. "We might be a long way from pre-recession over-the-air revenue numbers, but broadcasters are supplementing those revenues by taking steps to change the landscape by attracting advertisers through online and mobile and also by extending their signals to attract new listeners."
The following chart represents BIA/Kelsey's updated five-year forecast for radio.
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