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First Mediaworks


June 2002 Radio Revenues
NEW YORK, NEW YORK -- August 16, 2002 -- Radio advertising sales continued to mirror the recovering U.S. economy for the month of June, as combined local and national revenues increased 3% when compared to the same month a year ago. Local dollars grew 2% during June, while national sales registered a healthy 7% gain. For the first six months of 2002, national revenues were up 5% and local numbers were flat. Together, local and national sales were running 1% ahead of the first half of last year.

From a quarterly perspective, when matched against the second quarter of 2001, local revenues showed a 2% increase and national sales grew 7% during 2002's second quarter. Combined local and national figures for this year's second quarter were 3% higher.

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 local sales index for June was 134.4, compared to a national index of 118.1. The combined sales index for the month was 130.1. Through the first half of this year, the local index stood at 133.5, while the national index was 133.9 and the combined total was 133.6.

"Radio's strength as an advertising medium is reflected in the industry's steadily improving revenue figures, and bodes well for back-to-school sales and the upcoming holiday season," said Gary Fries, President and Chief Executive Officer of the RAB. "Looking forward, we see signs that Radio's growth will outperform the economy in general, resulting in a steady and strong recovery in 2002."

These monthly totals are based on the RAB Radio Revenue Index of more than 100 markets. The accounting firm of Miller, Kaplan, Arase & Co., and other certified public accounting firms, provide the local and national revenue data on the more than 100 markets RAB uses to calculate its Revenue Index.



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