A new report from BIA shows that the top revenue producing radio group owners for 2023 remain the same as in 2022. iHeartMedia’s repeat as the top billing radio station owner, with 870 owned stations in 151 markets generating $2.15 billion, was helped by four of BIA’s top 10 stations based on over-the-air revenue, including CHR powerhouses KIIS-FM Los Angeles and “Z100” WHTZ New York, along with New York adult contemporary “Lite 106.7” WLTW and L.A. hot AC “104.3 MyFM” KBIG. While iHeartMedia, Audacy and Cumulus Media again claim the top three positions in BIA Advisory Services’ annual ranking, there’s arguably more action further down the list for 2023.
Right up top, it’s worth noting that for BIA’s top five, including Hubbard Radio and Beasley Media Group at fourth and fifth, none show year-over-year revenue increases. While for four of the five those declines are in single digits, Cumulus’ revenue is down 22%, from 2022’s $493 million to last year’s $413.9 million.
“Given that 2023 was a non-political year in most markets, revenue decreases from 2022 are to be expected,” Senior Research Analyst Suzanne Ackley says in BIA’s report. Bucking that trend, however, are sixth-ranked Urban One with a 0.5% gain to move up from eighth, and privately-owned Alpha Media, up 0.2% to break into the top 10 from 11th in 2022, pushing Salem Media Group out of the ranking.
Audacy, billing $1.29 billion, also placed four stations in the top 10, with New York news stations WINS-AM-FM and WCBS-FM and sports WFAN-AM-FM, and Chicago news WBBM-AM.
Keeping Hubbard ranked fourth with its 54 stations in 10 markets is its Washington, D.C. news station WTOP, which tops BIA’s top-billing stations list, its $66.3 million making up 26.7% of the company’s 2023 revenue. “As the largest privately-owned radio group on our 2023 list, Hubbard continues to be a significant player in the industry,” BIA’s report says.
Fifth-ranked Beasley Media Group claims the remaining station in BIA’s top 10 billers for 2023, “The Sports Hub” WBZ-FM Boston, which accounts for 14.1% of Beasley’s total revenue.
Rounding out the top 10 radio owners for 2023 are Cox Media Group and Townsquare Media at seventh and eighth, respectively, with privately-owned TelevisaUnivision — the top-billing Spanish-language broadcaster in the U.S., responsible for half of the top 10 billing Spanish-language stations — ranked ninth.