NABOB & BIA Release Black-Owned Radio Stations Report

RADIO ONLINE | Monday, June 6, 2022

NABOB and BIA Advisory Services

The National Association of Black Owned Broadcasters (NABOB) and BIA Advisory Services have partnered to release the 2022 Black-Owned Radio Stations Ownership & Revenue Report. This is the first time such a report has been available with a detailed analysis of Black Owned radio stations, including specific station revenue and audience metrics.

The report shows that, of the 168 stations researched for this report, over a quarter (28 percent) produce revenues in the $1 million to $10 million range. Just 2.4 percent generate more than $10 million in annual revenue. Most Black Owned radio stations (72 percent) generate less than $1 million in annual revenue.

Of these stations, about a quarter (23.6 percent) are in markets unranked by Nielsen. About a fifth (19.6 percent) of the stations are in the Top 10 radio markets. Almost half (45.2 percent) are in markets ranked 51 or smaller. The rest are in markets ranked 11-50.

More than a tenth (12.5 percent) of these stations in ranked markets produce audience shares higher than 4.5 percent. Half (54.8 percent) produce measurable audiences of 4.5 percent or less (but greater than zero). About a third (32.7 percent) of the stations in ranked markets do not produce measurable audiences. Most of the stations program Urban (45.9 percent) or Religion (27.7 percent) formats with the rest dispersed across various formats.

NABOB President Jim Winston said, "One question that was asked when these new advertising and marketing commitments were made is: How many advertising dollars are currently being expended with Black Owned radio stations? This report answers that question, and the answer is very simple - too few."

He added, "Black Owned stations have a unique connection with the communities they serve, and that connection can directly benefit advertisers. The financial information provided in this BIA report sharply illustrates the lack of financial support that Black Owned stations are receiving in comparison to their general market competitors. We at NABOB hope that the presentation of this information for the first time will inspire a concerted effort within the advertising industry to advertise on our NABOB member stations."

BIA Advisory Services Managing Director Rick Ducey stated, "BIA is proud to team with NABOB to present the results of this inaugural study of radio stations owned by African Americans. As marketers and agencies continue to expand their commitments to reach and serve minority audiences, their interest in investing in minority owned stations has increased. However, prior to this report the industry did not have available an authoritative record of these stations, nor their economic standing. With this report, NABOB and BIA provide a benchmark study and data set that will facilitate targeted investment by radio advertisers seeking to reach the audiences served by these stations."

Visit NABOB.org to download the 2022 Black Owned Radio Stations Ownership & Revenue Report.