BIA/Kelsey Nudges Radio Forecast Upward
May 27, 2010: BIA/Kelsey revises its forecast for radio revenue in 2010 to $14.21 billion, up 3.7 percent from 2009, improving on an earlier forecast of $13.9 billion. The new figure, from the researcher's "Investing in Radio Market Report," reflects first-quarter results as well as "other market intelligence and a renewed optimism for the industry as a whole."
BIA/Kelsey VP Mark Fratrik said, "We're confident that there is still a lot of room for growth in radio, but it will be a slow and steady rise that shouldn't be measured by the results of a single quarter. The impact of this year's growth will be seen across many markets and is likely to reflect the areas around the country that have seen an economic upturn."
Over-the-air radio ranked fourth among 12 local media categories in revenue in 2009, according to BIA/Kelsey's "Media Ad View," bringing in 10.5 percent of $130.2 billion in total U.S. local ad spending last year. Direct mail was the leader, with 28.9 percent of local dollars, newspapers took 21.5 percent, TV came in with 12.4 percent, followed by radio, and then Yellow Pages at 9.7 percent. Online/interactive accounted for 5.4 percent of U.S. local media revenues last year, according to BIA/Kelsey.
Fratrik said, "In order for radio to maintain its position in the wider local media marketplace, it needs to continue to grow its broadcast revenues concurrent with its digital prospects. Returning to revenues that were last seen by the radio industry in the early part of the last decade will come from utilizing traditional over-the-air assets combined with mobile and other digital solutions."
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(5/28/2010 12:01:51 AM) This is great news! Radio is back to the billing levels of 1976-77. Happy days are here again! |
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