Radio station revenues decline

Radio stations across the country saw their revenues drop last year. Revenues for Canada’s commercial radio stations declined by 5.2% to $1.508 billion. Despite falling profits, the Canadian Radio-television and Telecommunications Commission (CRTC) reports 23 new FM stations were added to the dial, many of which were AM stations that converted to FM. As radio stations tightened their belts, expenses fell by about 1.7% to $1.2 billion in 2009. Overall profit margin dropped to 18% in 2009, or $272 million, from 21% in 2008. English-language FM stations fared worse than French-language stations. English FM stations saw their income drop by 5.8% to just under $1 billion, while French-language stations made 0.65% more in 2009 than in 2008, posting revenues of $227 million. Ethnic FM stations saw revenues decline by 3.3% to $16 million. Canada's 149 AM radio stations generated just over $300 million, a 7.4% drop in revenue from the previous year. The CRTC reports the commercial radio industry employed 10,191 people and paid $632 million in salaries when its fiscal year ended in August 2009.