Report: “Radio trying to find its voice.”

The January “Media Sector Review” newsletter from Noble Capital Markets notes that listenership levels have remained consistent, but “the industry seems to be stuck in the 0% to 1% revenue trough.” After pointing out that “radio listenership levels are impressive,” the report asks, “So, what is the problem and why haven’t advertisers come to radio with greater spend?” Their answer: “We believe that advertisers have shifted toward data-driven advertising metrics, which certainly favors digital advertising. In our view, there are significant opportunities for radio as it develops its data analytics capabilities.”