BIA/Kelsey raises radio revenue outlook for 2010

The new estimate is for a 3.7% gain for total radio revenues, more than double the earlier estimate of 1.5%. BIA/Kelsey says “based on first quarter results from a number of radio groups, other market intelligence and a renewed optimism for the industry as a whole”, it now expect radio revenues to hit about $14.1 billion up from the earlier estimate of $13.9 billion. BIA/Kelsey’s Dr. Mark Fratrik says “we’re confident that there is still a lot of room for growth in radio, but it will be a slow and steady rise that shouldn’t be measured by the results of a single quarter.” Read more from BIA/Kelsey’s new “Investing in Radio Market Report” summary here.

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