Radio ad revenue increased 12% over the course of last year, reaching nearly $20 billion, according to the Radio Advertising Bureau.

Local stations attracted around $15.2bn, with $3.6bn going to national broadcasters and $1bn to networks.

However, December saw a 3% drop in sales as the current advertising slowdown kicked in, but RAB president Gary Fries remained upbeat, predicting that the efficiency of radio advertising would help stimulate a revival in ad revenues in the second half of 2001.

News source: Advertising Age - Daily Deadline