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CRTC issues annual radio report
The Canadian Radio-television and Telecommunications Commission has released its report on the financial performance of Canada's commercial radio stations last year. According to the report, the country's 695 stations experiences a half-percent decline in revenues to $1.61 billion in 2014. Expenses increased by $19 million in the year, resulting in a decline in profits from $328 million to $299 million.
Revenues from the sale of local advertising for AM and FM radio stations decreased by 2.8% from $1.12 billion to $1.09 billion. National advertising sales increased by 4.4% from $476.3 million to $497.4 million.
Revenues from the 82 radio services operated by the CBC decreased by 5.6% to $287.6 million, despite the $1.1 million in national advertising revenue on its Espace Musique and Radio 2 stations, primarily due to government cutbacks.
Twelve new FM radio stations launched in 2014, bringing the total of FM stations in Canada to 568. FM stations generated $1.32 billion in revenue last year, down half a percent from the year before. In 2014, 127 AM stations operated in Canada, bringing in revenues of $290.9 million. This represents a 1.3% decrease.