Privately-owned commercial radio stations in Canada enjoyed increases in both revenues and profits in 2007, according to a report released yesterday by the Canadian Radio-television and Telecommunications Commission (CRTC).
The country’s AM and FM stations raked in a combined $1.5 billion in revenues last year, a 6.2% increase. Meanwhile, profits were up 5.5% to just over $300 million, a jump that the report credits to increased advertising revenues.
Local advertisers put nearly $1.1 billion into radio station coffers in 2007—4.8% more than in 2006—while national sales grew 8.3% to more than $380 million.
The bulk of radio revenues was pulled in by FM stations, which accounted for more than $1.1 billion. English-language FM stations accounted for $947.5 million, while French stations collected $209 million, and ethnic stations earned $16.1 million.
Revenues for AM stations totalled almost $330 million, including $291.7 million from English-language stations. The $15.1 million earned by French AM stations, however, was down $2.3 million from last year and continues a five-year decline from the $26.1 million these stations earned in 2003.
The report also notes that 23 new radio stations opened in 2007, bringing Canada’s total number of private commercial radio outlets to 619.
The CRTC compiled the data based on financial statements from Canadian radio stations.
