US Radio Revenues Dip By 1% During October
Radio advertising revenues in the US declined by 1.0% during October, as weak local spend more than offset the gain from the national sector.
According to figures from the Radio Advertising Bureau (RAB), quoted by Merrill Lynch, local adspend fell by 2% year on year during the month, whilst national was up by 1%. This is a weak start to the final quarter and Merrill Lynch analysts are forecasting that Q4 will finish down by 0.7%, after a 3.0% drop in November and a 2.0% rise in December.
The broker’s forecasts give a FY2003 figure of 1.6% growth; an early 2004 is forecast if for growth of 8.1%, which analysts now believe is easily achievable.
| US Radio Advertising Growth Forecasts | |
| Growth (%) | |
| October (actual) | -1.0 |
| November | -3.0 |
| December | 2.0 |
| Q4 2003 | -0.7 |
| FY 2003 | 1.6 |
| FY 2004 | 8.1 |
| Source: Merrill Lynch, December 2003 | |
