The US radio industry celebrated a 1% sales increase in January following a twelve month decline in revenues, reports the Radio Advertising Bureau.
Combined national and local radio sales rose during the month by one percent year-on-year, with national sales recording a 2% rise and local just 1%.
The upturn follows a year in which the industry experienced its first year-on-year revenue decline in a decade. January 2001 saw revenues fall by 3%, a trend that continued through to September when sales slumped by 14%. Revenues sagged by 7.4% over the full year.
Clear Channel Communications, the nation’s largest radio broadcaster by revenue, has forecast a robust performance for its radio unit in this year’s first quarter, predicting on a pro forma basis a rise in cash flow of between 1% to 3%.
Positive radio growth for the remainder of the year is forecast by RAB president-ceo Gary Fries, despite a marginal downturn in February due to radio's loss of traditional TV sweeps-advertising because of the Olympics.
Data sourced from: AdAge.com; additional content by WARC staff