BIA Advisory Services: WTOP-FM Top Biller in 2022
BIA Advisory Services announces that in the first edition of its Investing In Radio® Market Report for 2023, that the top billing radio station in 2022 was Hubbard Broadcasting’s all-news WTOP-FM, Washington ($69 million). It also reports that the total U.S. local radio over-the-air and digital revenue for 2022 topped $13.6 billion in 2022, an increase of 7.4% over the $12.6 billion total in 2021. Over-the-air advertising grew 2.2% to $11 billion (up from $10.7 billion in 2021) and digital income rose 35% to $2.6 billion (up from $1.9 billion in 2021). BIA VP of forecasting Nicole Ovadia says, “Looking at last year’s ad revenue results, it shows that radio is maintaining an important position in their local markets, particularly as it expands and improves its online digital presence. This year, we are making a particular effort to track the digital revenue of local radio stations and believe this breakout in our forecast will be valuable to everyone in the industry.” The BIA report notes that, aside from WTOP, “other all-news stations struggled.” Compared to last year’s list, Audacy’s all-news WBBM-AM/WCFO-FM dropped to the number nine position and WCBS-AM, New York dropped to the 11th position. New to the top 10 list is Cox Media Group’s news/talk WSB-AM/WSBB-FM, Atlanta ($31.6 million).