iHeartMedia Tops BIA Radio Revenue Rankings with $2.14B
| RADIO ONLINE | Wednesday, May 29, 2024 | 3:52pm CT |
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 BIA Advisory Services |
BIA Advisory Services posted its Top Ten Radio Owners by revenue rankings for 2023 in a recent blog post. Revenue totals were down last year when compared to 2022. iHeartMedia and its 870 stations in 151 markets was again number one in 2023 with $2.147 billion as compared to $2.258 billion in 2022 from 866 stations. Audacy, which about to emerge from bankruptcy, posted $1.292 billion in revenue in 2023 from 227 stations, compared to $1.369 billion in 2022 from 230 stations.
Cumulus was number three with $413.9 million from 404 stations in 2023 as compared to $493.33 million in 2022. Hubbard Radio secured the fourth position, thanks in large part to WTOP-FM, the number one revenue-generating station in the U.S. on 54 stations across 10 markets. Beasley Media Group took fifth place, with 58 stations across 13 markets combining for $232.2 million. This is a decrease from $248 million in 2022 (with 62 stations across 15 markets).
On a more positive note, Urban One experienced revenue growth with $214.5 million in 2023 on 57 stations. Cox Media Group saw $207.83 million in revenue in 2023 from 50 stations, down from $240.28 million from 53 stations in 2022.
