Commentary

Radio Sales Down Thru April

Radio Sales Down Thru April

According to the RAB current revenue report, the grand total spot and non-spot dollars dropped 4% when compared to April 2005. Local ad dollars for the month also fell 4% from April of last year. National ad sales figures took the biggest hit slipping 7% April 2006 over April 2005. Non-spot dollars show potential growth opportunity rising 8% April 2006 over April 2005.

Year-to-date Radio revenue was somewhat brighter boosted by minor growth spurts from earlier in 2006. Non-spot revenue for January through April 2006 was the bright spot, jumping 9% over those same months from 2005.

To put the intermediate and long-term growth of the Radio industry into proper perspective, the Ad Sales Index equates base year 1998 to 100. The Index works similar to the Consumer Price Index so that information can be monitored on a monthly basis.

RADIO ADVERTISING BUREAU INDEX OF RADIO REVENUE POOL NUMBERS

APR 05-APR 06YTD

JAN-APR 06 vs. JAN-APR 05

Local Revenue

Local Revenue

All Markets

-4%

All Markets

-2%

Local Ad Sales Index

134.4

Local Ad Sales Index

138.8

National Revenue

National Revenue

All Markets

-7%

All Markets

0%

National Ad Sales Index

122.1

National Ad Sales Index

145.1

Local & Nat'l Revenue

Local & Nat'l Revenue

All Markets

-5%

All Markets

-2%

Combined Ad Sales Index

131.6

Combined Ad Sales Index

140.2

Non-Spot Revenue

Non-Spot Revenue

All Markets

8%

All Markets

9%

Grand Total Revenue

Grand Total Revenue

All Markets

-4%

All Markets

-1%

Source: Radio Advertising Bureau, June 2006

Local and national revenues are based on a pool of more than 150 markets. The RAB Sales Index equates base year 1998 to 100.

The Radio Advertising Bureau (RAB) is the sales and marketing arm of the Radio industry with nearly 7,000 members including close to 6,000 stations in the U.S., and over 1,000 associate members in networks, representative firms, sales, and international organizations.

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