As 2009 draws to a close, BIA/Kelsey VP Mark Fratrik is projecting that radio revenues will be even a bit worse than he’d projected at mid-year. Instead of a 15% decline, he’s expecting revenues to be down 19% to $13.3 billion.
That is, however, expected to be the low point for the industry. Fratrik is projecting that over the air ad revenues will grow by $200 million each of the next two years and finally push back above $14 billion in 2012. Meanwhile, online revenues will continue to grow, but are a long way from filling the gap from the three-year decline in spot sales.