• Radio Business Report, Sunday, April 25, 2010 10:28 PM

In a note to investors,post NAB, Wells Fargo Securities analysts note that 2Q pacings are up 20%-plus for TV and high single-to-low double digits for radio, due to easy year-over-year comps, plus resurging auto ad spending and robust political advertising. Some radio executives believe radio is capable of posting a double-digit gain in 2010. Still, even at a 10% growth rate this year, industry-wide radio revenue would be at 1999 levels of $17.6 billion.

As for TV, we heard from a few executives who lamented that despite the recovery, station ad revenue may not return to peak levels until 2012 - if then. "Auto spending is the top or close-second category leading local TV and radio advertising to recovery. For example, GM's advertising on TV quadrupled in January and February (albeit against very easy comps)," the analysts noted. Industry analyst Magna Global is forecasting a 16% rise in local broadcast TV revenue in 2010 to be led by auto ad spending.

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