Capitol Hill
The terrestrial radio industry is a ways off from returning to revenue of past years despite improving ad sales, said an industry researcher who helped write a report cited by a group seeking performance royalties (CD April 5 p3) .…
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The $16 billion expected by BIA/Kelsey in 2014 compares with the annual revenue of $18 billion-$19 billion of years past, Vice President Mark Fratrik said in an interview. “Radio stations still have tremendous challenges [though] they're still an important part of local advertising. It’s not easy street.” Executive Director David Honig of the Minority Media and Telecommunications Council, an opponent of performance royalties, said last week’s letter from the Commerce Department supporting them puts the department at odds with its goal of creating jobs. If such legislation were passed, one-third of minority-owned radio stations would go bankrupt, he told us. “I hope the department will reconsider its position.”