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Radio Revenues Fall 8 Percent In May

NEW YORK -- June 18, 2008: Local radio revenue fell by 9 percent and
national was off by 13 percent, combining for a 10 percent drop, the
RAB reports today. Nonspot revenue rose by 12 percent, but grand total
revenue fell by 8 percent for the month.

The steep 8 percent decline for May matches the figure for March, but
follows a dip of just 1 percent in April, when local was down 1
percent and national fell by 5 percent.

On the positive side, nonspot's 12 percent gain in May represents a
return to double-digit gains after an 8 percent increase in April that
followed gains of 18 percent in March and 17 percent in February.

The RAB's local and national revenue figures are based on about 100
markets as reported by Miller Kaplan.

In case you had not noticed, we are in a borderline recession. Everyone is
off. Look at FedEx's projections of 11% lower revenue and increased fuel
costs as one example.