Radio revenue down 19% this year

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Chantilly, Va.—The radio industry will end this year with revenue of $13.3 billion, a 19% drop compared with 2008, according to consulting firm BIA/Kelsey’s quarterly “Investing in Radio Market Report,” which was released Wednesday.

BIA/Kelsey predicted that the radio industry will begin recovering in 2010, with revenue expected to increase to $13.5 billion. BIA/Kelsey said revenue related to radio Web sites will bring the industry $382 million, up from $342 million in 2008.

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