Radio's revenue story still bleak

August 22, 2008 Combined local and national spot radio advertising dropped 8% in the second quarter to $4.6 billion for a 7% drop in the first half to $8.4 billion, according to recent figures released Thursday by from the Radio Advertising Bureau. Even factoring in a robust 12% growth in off-air advertising to $889 million and a healthy 3% climb for network radio to $567 million, radio advertising is still down 5% to $9.9 billion at midyear. Radio continues to be hit by a soft national ad market with national spot dropping 11% in the second quarter and staying there.

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