National radio sales drop 12.7% in 2009

TORONTO – A “challenging” fourth quarter contributed to a shortfall of -12.7 % in national radio sales for the 2009 broadcast year, says Canadian Broadcast Sales (CBS).Q4 was down -25.2% year-over-year, with weakness in the financial services sector (-61%), the alcohol beverages category (-47.8 %) and automotive (-40.5%). “Radio hasn’t experienced a decrease in revenue since the months immediately after September 11th, 2001, and even that downturn was less than half of Q4’s minus 25.2%,” said CBS president Patrick Grierson, in the press release. “Last September and October represented the peak of a six year run of year-over-year increases. November held...