Chantilly, Va.—Clear Channel Communications continues to dominate the radio industry, with 1,171 stations and 2005 revenue topping $3.5 billion, according to the second edition of the “2006 Investing in Radio Market Report” released Friday by financial and strategic advisory firm BIA Financial Network.
The report predicts that Clear Channel and the country’s other top 25 radio groups together will only garner revenue increases of around 2.3% in 2006, even accounting for small pockets of growth in several markets. In particular, Phoenix is expected to see revenues grow as much as 8%.
Smaller markets that are expected to grow this year include Tulsa, Okla. (6.5%); Lafayette, La. (5.5%); and Augusta, Ga. (5.5%).