Statistics Canada reports today that Canada's private radio station operators posted record profits in 2003. Air times sales were $1.2-billion.
This stellar performance for “the granddad of electronic media” comes even as Internet use and music downloads continues to swell.
Statscan said the radio stations did it primarly by watching their own costs. The costs to operate private radio stations rose 3.7 per cent while revenues rose 8.4 percent compared to 2002.
In fact, in the last six years, the profit margins of private radio have eclipsed the profit margins of television stations!