A two year slump in radio revenues is said to be over, and a leading radio group was able to record a 14% gain in advertising revenues in July, according the Times Online. But the company's CEO tempered his remarks, saying, "I'm cautiously optimistic, but I can't say I'm doing cartwheels around Leicester Square."
The group is GCap Media, and the Times in question is based in London and the CEO in question is Ralph Bernard. After sluggish growth patterns, GCap had several positive numbers to report, but still sees a difficult economy ahead. Radio was said to be a "leading indicator in media" with short lead times in air time acquisition viewed by many as "a more discretionary investment."