The World: New York - Radio ad industry suffers its worst-ever quarter

The radio advertising business has posted its worst quarter in history, according to new figures released by the Radio Advertising Bureau.

The combined spend of national and local radio advertising fell 26 per cent to $2.8 billion for the first quarter of this year, with network radio, which performed better than expected in 2008, dropping 13 per cent to $238 million, and off-air revenue falling 12 per cent to $264 million.

Digital radio was one sector that did experience an increase in ad revenue for the quarter, recording a 13 per cent growth to $101 million.