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August 1, 2014

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December 2004, Full-Year Revenues
Radio revenues topped the $20 billion mark in 2004 with a total increase in spot and non-spot dollars of 2 percent over last year. Local ad sales were the most robust, growing 3 percent over 2003. National ad dollars remained stable, coming in flat for the year. Network ad figures grew 5 percent this year over last. The total combined local, national, and network ad sales revenue for 2004 was up 2 percent compared to 2003. Non-spot revenue climbed 11 percent in 2004. Fourth-quarter 2004 figures also showed healthy signs of recovery for the industry, particularly in the national sector, which rose 3% when compared to 4th quarter of 2003. Local ad sales remained flat in 4th quarter of 2004 compared to 4th quarter of 2003. Total combined local and national ad revenue for the last three months of the year grew 1 percent over that same time period from last year. Non-spot revenue was up 10 percent in 4th quarter of this year compared to last year. Total spot and non-spot Radio revenue for the last three months of 2004 climbed 1 percent compared to that same time period from a year ago. While 4th quarter of 2004 was strong, the month of December was less than vigorous. Total spot and non-spot dollars dipped 1 percent when compared to December of 2003. Local ad sales were down 1 percent this December compared to last December. National ad sales figures also dropped 5 percent in December 2004 compared to December 2003. Total combined local and national ad sales for the month of December 2004 declined 2 percent compared to December 2003. Non-spot dollars for the month increased 12 percent over last December. "Radio continues to be attractive to advertisers because it continues to grow its audience and deliver consumers," noted Gary Fries, President and Chief Executive Officer of the Radio Advertising Bureau. "In the past year alone, the number of listeners to terrestrial Radio has grown by over 3.5 million consumers nationwide (RADAR 83, fall 2004 vs. RADAR 79, fall 2003). Moreover, terrestrial Radio's audience has grown an astounding 10.7 million listeners in just the past four years (RADAR 67, fall 2000)." 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. Non-Spot data has been collected and audited since January of 2002, and reported since September of 2004.

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