As in previous months, Boyle noted that small and mid-sized radio markets are faring much better than large markets, with many posting single-digit increases in ad revenue.
However, the steep drops at radio stations in large markets more than offset these small-market gains.
Radio's steady decline is beginning to resemble newspapers, an ominous parallel considering the latter medium's plummeting fortunes. In the first quarter of 2008, radio's total revenues declined 5%, due mostly to a 7% decline in local and national ad categories. This followed declines in the last three quarters of 2007: 1% in the second quarter, 5% in the third quarter and 4% in the fourth quarter.
A decline in the second quarter of 2008, as is widely predicted, would mark over a year of continuous losses.