Operating revenues among private radio broadcasters fell 5.2% last year, their first annual decline since 1993.
Statistics Canada reports revenues totalled $1.5 billion in 2009.
The agency says advertising revenues–broadcasters’ primary income source–dropped 5.5%, and AM stations suffered more than those on the FM dial. In 2008, AM stations reported $319.9 million in ad revenue, compared to $295.4 million in 2009, a drop of 7.7%.
FM station revenue was down 5%, from $1.24 billion in 2008 to $1.178 billion in 2009.
StatsCan blames the general economic downturn for the industry’s decline, as private radio profits came in at 17.9 cents per dollar of revenue before interest and taxes–the worst performance since 2002.
The industry’s profitability had steadily increased over the previous 10 years.
Operating revenues increased in Saskatchewan by 6.7% and in Quebec by 1.1%, but Statistics Canada says it declined in all other regions.
