August 2004 Radio Revenues
While indicators identify a healthy local marketplace on the horizon for local Radio, revenues remained depressed in August. Total combined local and national ad sales for the month declined 1% over August of 2003. Local sales figures came in flat for the month compared to last August. National ad dollars experienced a decline of 5% during August of 2004 compared to the same month from a year ago.
Looking at Radio revenues from a year-to-date perspective depicts a healthier portrait of the industry. During the first eight months of 2004 total combined local and national ad dollars grew 2% over that same time period from a year ago. Local dollars increased 3% January through August of 2004 compared to the same months from 2003. National business remained murky, dropping 2% January through August of this year when compared to January through August of 2003.
“In breaking down the various markets we are seeing some very encouraging results,” observed Gary Fries, President and Chief Executive Officer, RAB. “For example, in markets 31 through 100, August showed a local increase of 8%. This is a leading indicator of a strengthening local marketplace that is starting to radiate into some of the larger markets.”
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.