Wachovia Analyst Calls Radio A 'No Growth Medium'

From Radio Online:

In a research paper entitled "Broadcast: Reevaluating The Landscape," Wachovia broadcast analyst Marci Ryvicker calls the radio industry a "no-growth medium," while revising long-term growth estimates for broadcast companies. The primary culprit: the reallocation of ad dollars to new media from traditional media.

"We previously believed that radio would some day show some top line growth, but after 24 consecutive months of revising our estimates downward, we now believe that 0% is a more realistic (and potentially the best case) scenario long term," wrote Ryvicker.

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