Radio Suffering Through Worst Year Since 1954

Like pretty much every other industry during a recession (except maybe the alcohol and fast food sectors), terrestrial radio is seeing record declines in 2008, with the entire industry having its worst year financially since 1954. Revenues are off seven percent from last year's numbers, and 2008 marks the eighth consecutive struggling year for the industry. To put things in perspective, things haven't been this bad since the main attraction beaming to antennas was The Lone Ranger and Joseph McCarthy's hearings against supposed Communists and the Dodgers were still in Brooklyn. Things are somewhat more optimistic in the small markets, where radio has seen their revenues grow by 0.6% over the last 20 months. In the bigger markets, however, the market has lost 4 percent of revenue monthly. One can't fully blame satellite radio for the downturn, as SiriusXM has its own struggles as its stock currently hovers at the 17 cents mark at press time.

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Song Stories

“My President”

Young Jeezy | 2008

Young Jeezy teams up with Nas on this track, in which he compare his own success with the idea of an African-American winning the Democratic Party's nomination in the 2008 presidential election. "When I pulled up in my car, that s--- was unbelievable to people in my neighborhood because they were like, 'We grew up with him. How the hell did he accomplish this?'" he told Rolling Stone. "I feel like it was the same way with Obama. I grew up all this time, but I've never seen a black man this close to running this country."

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