BIA’s Top Billing Radio Groups
> UPDATED: Less than two weeks ago BIA Advisory Services released its annual list of the top-billing U.S. radio stations. Now, BIA has released the exciting sequel: the 2023 Top Billing Radio Owner Groups.
The report shows that the top five radio owners from 2022 retained their positions in 2023: 1) iHeartMedia; 2) Audacy; 3) Cumulus Media; 4) Hubbard Radio, and 5) Beasley Media Group.
Given its sizeable portfolio of 870 AM & FM stations across 151 markets, it’s no surprise that iHeartMedia remained in the top spot, generating $2.15 billion in 2023. Four of its FMs (KIIS-FM, WHTZ, WLTW, & KBIG) made BIA’s Top 10 Billing Radio Stations list.
Audacy remained in the No. 2 position, with its 227 AM & FM stations across 46 markets bringing in $1.292 billion, down from $1.35 billion in 2022 (with 230 stations) and $1.6 billion in pre-pandemic 2019 (with 235 stations). Audacy had four stations (WINS, WFAN, WBBM-AM & WCBS-AM) in the Top 10 billing list.
Cumulus came in a distant third in terms of revenue, with 404 AM/FM stations across 82 markets generating $413.9 million, down 22% from 2022 (with 404 stations) and $531 million in 2019 (with 425 stations).
Hubbard Radio, the largest privately-owned radio group on BIA’s 2023 list, secured the No. 4 position, thanks in large part to WTOP-FM/Washington, the No. 1 revenue-generating station in the U.S. with $66.3 million. Hubbard owns 54 stations in 10 markets, generating a total of $240.5 million.
Rounding out the Top 5 is Beasley Media Group, with its 58 stations in 13 markets combining for $232.2 million, down from $248 million in 2022 (with 62 stations in 15 markets). Beasley had one station in the Top 10 Billing Radio Stations list: WBZ-FM/Boston, which ranked fifth. The complete BIA report is available here.
And speaking of WTOP… the station won six Regional Edward R. Murrow Awards this week from the Radio Television Digital News Association (RTDNA).
The WTOP newsroom was recognized as a whole in the “Continuing Coverage,” “Newscast” and “Overall Excellence” categories, and the WTOP digital team was recognized overall in the Digital category for WTOP.com. Individual awards went to WTOP reporter Matt Kaufax in the “Feature Reporting” category, and to WTOP Associate Producer Veronica Canales in the “Excellence in Writing” category.
WTOP now advances to the national round of the competition where it will compete against regional winners from across the country.
