BIA announces top-paid U.S. radio stations in 2023

BIA Advisory Services has released its annual list of the ten highest-grossing radio stations in the United States for 2023.

Washington, D.C.-based Hubbard Radio’s WTOP once again takes the top spot as the most-watched radio station in the United States in 2023.

According to the BIA Investment Broadcast 2024, 1st EditionWTOP reported wireless revenue of $66.3 million, accounting for nearly 29% of total radio advertising revenue in the Washington, D.C. market in 2023.

WTOP’s revenue decline was the smallest of all top performers, at 3.9%.

Ownership of the top-grossing stations is relatively concentrated, with Hubbard and Beasley Media Group each having one station in the top 10, while iHeartMedia and Audacy each have four stations. The program formats are diverse: four radio stations have news programs, one is a sports program, one is a sports/talk program, and the remaining four stations have music programs.

Geographically, five of the top ten stations are in New York, two are in Los Angeles, and one each is in Chicago, Washington, and Boston.

Top Billing Stations in 2023

It is worth noting that the BIA chose to classify both Audacy NYC’s WINS and WFAN as FM stations, even though the FM signal only ran a simulcast of WINS-AM and WFAN-AM. If counted as AM stations, they would rank first and second respectively. This would make Audacy four of the five highest-grossing AM stations in the United States.

Cox Media Group and Cumulus Media each have one station in the AM top 10, while Audacy has five and iHeartMedia has three, according to the survey.

As for the remaining AM stations, iHeartMedia’s KTRH-AM station in Galveston, Houston, jumped from No. 14 to No. 3. Program formats at these top AM stations include five news programs, three news/talk programs, one combined news/talk/sports program and one sports program.

Hottest AM Radio Stations of 2023

The BIA will update its list of the top 10 radio station owners by revenue and the top 10 Spanish-language radio stations by billing in the coming days.

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