Public Radio Capital is announcing the release of its analysis of the noncommercial radio sales trends. PRC has prepared this analysis since 2005 for internal distribution and to share with appraisal clients; it will now be available to the greater public media community.

Following are highlights from this year’s report:

• The number of noncommercial radio sales continues to grow; there were 116 licensed noncommercial sales in 2012, which set the record for the past 13 years analyzed.

• Despite the upward trend in the number of licensed noncommercial radio sales, total sales volume ($), excluding commercial band FM sales, has been down for the past three years.

• After a significant increase in 2010 and 2011, the number of construction permit (CP) sales was down.

• In line with the historical trends, the majority of noncommercial radio stations, including CPs, were acquired by “non-public” radio entities, representing 78% of all sales in 2012.

• In recent years there has been an increase in the number of educational institutions (colleges and universities) selling their broadcast asset.

The full report can be viewed here.

If you would like more information about PRC’s appraisal services or the sales trend report, please contact Evran Kavlak at ekavlak@publicradiocapital.org.

A review of radio transactions in the top 30 markets indicate that existing operators in eight markets  expanded services by acquiring new stations. PRC provided brokerage and consulting services for six* of these eight station acquisitions. In Seattle, KING FM switched from a commercial to a noncommercial classical format as well. The chart takes a snapshot of public radio’s audience share across the top 30 markets and highlights the audience growth for the following new 24/7 public radio services:

•    Seattle-Tacoma, WA: In 2011 KING 98.1 FM transitioned from a commercial to a noncommercial classical service.

•    Minneapolis-St. Paul, MN: In 2004 Minnesota Public Radio purchased KCMP 89.3 FM (prev. calls: WCAL) to provide a 24/7 Triple A service appealing to a younger audience.

•    Boston, MA: In 2009 WGBH purchased WCRB 99.5 FM* to provide a 24/7 classical music service.

•    San Francisco: In 2012 the University of Southern California purchased KDFC 89.9 FM, KOSC 90.3 FM, and KXSC 104.9 FM* to provide a 24/7 classical music service.

•    Denver-Boulder, CO: In 2012 Colorado Public Radio (CPR) purchased KVOD 88.1 FM (prev. calls: KFDN)* to provide full-time news and full-time classical service on two separate FM stations.

•    New York, NY: In 2009 New York Public Media purchased WQXR 105.9 FM to provide a 24/7 classical service.

•    Dallas-Ft. Worth, TX: In 2009 North Texas Public Broadcasting purchased KKXT 91.7 FM (prev. calls: KVTT)* to provide a 24/7 Triple A music service.

•    Miami-Ft. Lauderdale-Hollywood, FL: In 2008 American Public Media Group purchased WKCP 89.7 FM (prev. calls: WMCU)* to provide a 24/7 classical music service.

•    Houston-Galveston, TX: In 2011 the University of Houston purchased KUHA 91.7 FM (prev. calls: KTRU)* to provide a 24/7 classical music service.

*PRC provided brokerage /consulting services.

Markets are ordered by their rankings, defined by Arbitron based upon population size. Chart includes Arbitron PPM subscribers only.
Several factors such as demographics, station inventory and competition contribute to differences in audience share between the markets.

January 2013 – Public Radio Capital announces the release of its Public Radio State of the Industry Report, covering trends in audience, revenues and federal support. This year’s report includes the most recent industry-wide data collected for fiscal year 2011. PRC has prepared this report annually since 2004 for distribution to bond rating agencies, and starting this year, it will now be available to the greater public media community.

Following are highlights from this year’s report:

• Public radio continues to attract new listeners. The weekly audience for all NPR affiliates rose slightly to a record 34.3 million in 2011.

• Despite the economic recession, public radio increased its revenues and is now nearly a billion dollar industry, supported primarily by listeners.

• Public radio’s total non-federal financial support increased by 6.2% over 2010, or by approximately $51.5 million.

• Membership and underwriting increased by 6.4% and gifts by major donors was up by 12.2%.

• While new media platforms have changed the way users access and consume media, broadcast radio reaches 93% of Americans age 12+ every week and is expected to maintain this high market share for the foreseeable future.

Read Public Radio Industry Report January 2013.pdf
For additional information on the Report, contact Russ Otten at r.otten@publicradiocapital.org

Co-Founder and Managing Director Marc Hand noted, “Anne’s commitment and contribution to public radio and our company have been immeasurable. While we will miss working with Anne on a regular basis, we are pleased that she will be on call to lend her expertise.”

Boulder, Colo.—(Nov. 12, 2012) Public Radio Capital (PRC) today announced that New York based nonprofit FJC: A Foundation of Philanthropic Funds has established a $100k fund at PRC to spur growth and innovation in public broadcasting.  The Revolving Public Media Fund (RPMF) will initially subsidize PRC’s work with five public broadcasters committed to transformative change to improve and grow their services. Through an application process, selected organizations will receive $30k in PRC consulting and strategic planning services.  The RPMF will cover $20k of the cost, and the selected organizations must be willing to commit to an additional $10k investment in the PRC consultancy.  A portion of PRC fees generated from projects seeded by the RPMF will be reinvested to perpetuate the RPMF.  PRC – RPMF Press Release RPMF Application

St. Louis Public Radio reaches nearly 235,000 people each week in the bi-state area and has just been named a  2013 recipient of the Champion of the Arts Award from the Arts and Education Council- St. Louis.  St. Louis Public Radio | 90.7 KWMU is a member-supported service of the University of Missouri-St. Louis.

Our work at PRC is driven by public media ideals of excellence and independence, media that empowers communities and gives voice to diverse people, ideas, and issues that confront us daily. PRC’s success, and that of the Public Radio Fund, our loan source for growing public media organizations, is only possible through  the help of generous funders, dedicated board members, and venturesome clients intent on better service to their communities.

Marfa Public Radio Staff, photo by Chase Lindley

The Public Radio Fund loaned $175,000 to Marfa Public Radio (MPR) in West Texas as acquisition financing for the purchase of 91.3 FM and related broadcasting equipment. This expansion brings MPR services into the metropolitan region of Midland-Odessa, increasing the station’s coverage area from 10,000 people to 250,000 people. Renowned nationally for its life saving crisis response to the largest wildfire in Texas’s history in 2011, word continues to spread about this small, young station and its public radio services that are connecting people daily over the air, online and through social media. Visit them at www.marfapublicradio.org