Industry Trends: Radio Down, iTunes Up
I know: Pope Catholic, sky blue. But it's the numbers that are pretty surprising. Radio & Records Magazine reports that radio revenue fell even more than everybody expected in May, and the normally staid publication called the numbers "a horror show." Local revenue was down 9% (aaaagh!), national revenue off 13% (eeeek!), people listening down a zillion % (noooo!) . Okay, I can't prove that last one, but I wouldn't bet against it.
On the other side of the industry, iTunes, in contrast, can't be stopped: the online music retailer just sold its five billionth song, also announcing that they're renting and selling over 50,000 movies a day, making iTunes the world's biggest online movie store too. Crimeny, if they start selling groceries I'll never have to leave the house.