The radio industry has been running into rough waters since a long time and it keeps going down as if it is trapped in quick sand. Especially in the wake of online media invasion and availability of millions of download facilities are making people turn from radio to internet and iPods. Apparently, it is clear that the radio industry started its downward journey in the late 1990’s and never recovered since then.
The consumer’s focus started shifting from radio in late 1990’s when leading broadcast companies were thinking of buying more stations. Since then, radio revenue growth has been almost stagnant. Consequently, the average duration spent on radio is loosing its ground considerably as the average time spent on radio is now reduced by 14 percent if compared with the last decade.
The overall situation has become so dark that there is not even silver lining appears to grace the industry. The situation has worsened so drastically that Clear Channel has recently decided to sell its 1,200 stations.
