July 2003 Radio Revenues
Robust national Radio sales figures continued in July, jumping 12% over the same month a year ago. Local Radio revenue remained flat for the month compared to last July, as that sector of the industry continued to fend off erosion from the still-struggling economy. The combined local and national total revenue for the month climbed 3% over July of last year.
On a year-to-date basis, national Radio revenue rose 8% in the first seven months of 2003 when compared to the same time period in 2002. Local ad dollars inched up 1% January through July over those same months from a year ago. Total combined local and national dollars for January through July of this year went up 3% compared to January through July of 2002.
To put the intermediate and long-term growth of the Radio industry into proper perspective, the Radio Advertising Bureau (RAB) introduced a Sales Index that equates base year 1998 to 100. The Index works similar to the Consumer Price Index so that information can be monitored on a monthly basis.
The national sales index for July 2003 was 150.8; the local index was 142.3; and the total combined index was 144.6. From a year-to-date perspective, the national index was 142.3; the local index was 134.8; and the combined total was 136.7.
"This is a continuation of forward momentum for Radio, as we progress into the second half of 2003," observed Gary Fries, President and Chief Executive Officer, RAB. "All indications point toward steady growth throughout the remainder of the year."
These monthly totals are based on the RAB Radio Revenue Index of more than 150 markets. The accounting firm of Miller, Kaplan, Arase & Co. provides the local and national revenue data on the more than 150 markets RAB uses to calculate its Revenue Index.
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