Radio seen down 2% in 2007


Add Anthony DiClemente at Lehman Brothers to the Wall Street analysts who have reduced their radio forecasts after RAB reported September revenues nationwide down 7%. "In our view, the reality in the US economy right now is that anyone that does business with mortgage brokers, banks big and small, real estate agents, home insurance companies, home builders, or home furnishing businesses is at a distinct risk of a tangible slowdown in their business," DiClemente noted. He is concerned that the deterioration of radio ad sales could be accelerating. He had previously expected radio revenues to be down 0.8% for all of 2007, but he has now changed that to a 2% decline.