AM stations help push 2008 radio revenues up 5.6%

OTTAWA - Canada’s private radio broadcasters saw operating revenues of $1.6 billion (current dollars) for 2008, a 5.6% increase from 2007 totals, according to Statistics Canada.Profits before interest and taxes increased 12.2% to $336.5 million, while the profit margin before interest and taxes of 21.1% realized in 2008 was almost identical to the industry's best performance in the last 30 years, the 21.2 % margin achieved in 2005.The report says that the private radio industry has been profitable in recent years due largely to two key factors. First, the industry's large companies operate an increasing number of stations, especially in...