Dr. Mark Fratrik says the 5.4% increase in over-the-air local station revenues "reflected the return of national advertisers to the airwaves, and some political battles that made an impact in certain markets." BIA/Kelsey pegs local over-the-air revenues at $14.1 billion for the full year. The Radio Advertising Bureau previously reported its own breakout: a "grand total" revenue gain of an average 6%, with spot revenue up 6%, network up 3%, digital zooming ahead 24% and "off-air" up 3%. BIA/Kelsey slices the numbers differently, but their results seem similar. Fratrik says "Radio continues to face a lot of competition in the local and online advertising marketplace" and says "stations are becoming more aggressive with their digital and online strategies, which are driving measurable revenue." The research firm looks at revenue by market size, and says nearly 27% of radio's 2010 revenue was generated in the top 10 markets, where revenues grew 6.9%.

For 2011, BIA/Kelsey expects over-the-air local station revenues to grew at a 3.7% clip, and 2012 up 4.5, because of the 2012 election cycle. The results come from BIA/Kelsey's latest "Investing in Radio Market Report."