Radio revenue declines in '08

February 20, 2009 Factoring in off-air and network revenue, the medium was down 9% to $19.5 billion, according to figures released by the Radio Advertising Bureau. Bracing for one of the toughest ad markets in recent memory, radio groups, many of them over-leveraged, have cut costs and staffs to the bare bones. Automotive spending, which accounts for 15% of the medium's revenue and is its No. 1 ad category, declined by 22% to $2.5 billion in 2008.

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