Radio industry revenue expected to increase 1.5% this year

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Chantilly, Va.—The radio industry will see a 1.5% increase in revenue to $13.9 billion this year compared with 2009, according to a report issued last week by BIA/Kelsey, a local-media consulting firm.

The “Investing in Radio Market Report” noted that radio industry revenue plunged 18.4% in 2009 to $13.7 billion. BIA/Kelsey said it expects a 2% to 4% annual growth rate over the next few years, including a 16.5% compound growth rate from online revenue.

“While the poor economy held it down momentarily, radio is coming back to demonstrate that it is an important advertising vehicle, particularly in local media markets,” Mark R. Fratrik, a VP at BIA/Kelsey, said in a statement. “The industry will continue to grow its online revenues in 2010 as increasingly more progressive radio groups recognize they are more than just over-the-air transmitters and begin to integrate cross-platform promotions with their broadcast and Web operations.”

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