Radio revenues fall 5.2% in 2009

OTTAWA-GATINEAU – Revenues at Canada's AM and FM radio stations dropped 5.2% to $1.5 billion for the broadcast year ending August 31, 2009, a CRTC report said Thursday.Expenses, however, also fell by approximately 1.7% to $1.2 billion in 2009, due in part to a reduction in the industry’s work force. The commercial radio industry employed 10,191 people and paid $632 million in total salaries for the 2009 fiscal year, compared to 10,347 people and $635.4 million in total salaries for 2008. Total profits before interest and taxes (PBIT) were $272 million for the fiscal year, and the PBIT margin fell to 18%,...