Radio Q3 Revenues Down 16%, Digital Rises 14%

RADIO ONLINE | , , | :am CT

Radio revenues fell 16% over 2008 third quarter totals to $4.2 billion reports the RAB. Local revenues were down 19% to $2.8 billion, while national numbers declined 17% to $639 million. When combined, local and national numbers fell 19% to $3.4 billion. The one bright spot was a 14% gain in digital revenues to $126 million.

Network sales were down 11% to $253 million, and off-air revenues decreased 9% to $335 million. The decline in third quarter numbers follows a 22% overall decline radio revenues in the second quarter, and a 24% drop in the first quarter.

"As the quarter came to a close, it showed promise of an upswing in advertising spend by marketers," commented RAB President/CEO Jeff Haley. "Increases in expenditures in highly competitive categories continue to positively influence radio's bottom line."

Haley continued, "Although there have been shifts in rank, radio's top five categories have been consistent since 2005. Within these top five categories we continue to see some advertisers aggressively increase their share of voice when compared to their higher-spending competitors."