The Radio Advertising Bureau (RAB) has released total industry revenue figures for both the fourth quarter of 2007 as well as the full year. In Q4, total local & national revenue was down five percent compared to the previous year, with local down three percent and national falling by 11 percent. Network revenue grew by one percent, with off-air revenue (aka Non-Spot revenue) increasing by 12 percent. In total, radio brought in just over $5.4 billion in Q4.
For the entirety of 2007, local revenue was down two percent, national revenue fell by six percent, with an overall three percent decrease. Network revenue was up by four percent compared to 2006, with off-air up 10 percent compared to the previous year. For all of last year, radio's grand total revenue was $21,310 billion, a two percent fall from 2006.
"As radio broadcasters expand their online components and extend interactive and on-demand options, radio will continue to deliver a seamless audio experience across numerous platforms to connect with consumers where and when they want," noted Jeff Haley, RAB President/CEO. "The nimbleness of the expanded radio space provides a true 360-degree integration opportunity for marketers and their agencies to reach and engage their customers."