SOURCE: Century Group, Inc.

February 22, 2007 09:15 ET

As Radio Revenue Declines, Alternate Income Sources Needed

Internet Is Both Threat and Opportunity to Traditional Broadcast Media

ORLANDO, FL -- (MARKET WIRE) -- February 22, 2007 -- Almost 90% of America still listens to traditional broadcast radio at least once a month, but the daily audience and advertising revenue have been shrinking for this -- and most other -- form of broadcast media over the last decade. As increasing numbers of content consumers turn to the internet or to personal media players for their music, movies, and entertainment, traditional broadcast media have found it necessary to enter the online space as well.

Century Group's (PINKSHEETS: CEYG) President Dan Bordui sees this transitional period for broadcast media, both traditional and new formats, as a time that is filled with opportunity. He has several years experience in both broadcast media and in online media, and is looking to position Century Group to take advantage of the online space to help traditional media generate non-traditional revenue. "Content consumption is changing over from the broadcast model that has lasted for fifty years," says Dan Bordui. "For example, both radio advertising and internet advertising are currently a 20 billion dollar a year business. Radio advertising is trending downwards, though, and internet ad revenues are growing every year. Clearly, finding a way to supplement broadcast revenue and market with the internet's growing reach and profitability is a winning strategy.

"Other broadcast stations are taking their own approaches to this, by offering video on their website, trying subscription services like satellite radio, or other alternative means of revenue that will secure their future as a medium and a business. What Century Group is looking to do, what my goal is here as president, is to offer radio stations a package that they can implement, not just as one station or five stations, but offer a package that any station can use to generate additional revenue. We need to change how broadcast media of any sort earns revenue.

"We're currently investigating partnerships that will allow us to do just that. Our immediate goal is to provide exciting new opportunities in non-traditional revenue and content offering in the online media space to complement offline advertising and marketing."

For more information on Century Group, Inc., visit www.CenturyGroupUS.com.

Contact Information

  • Contact:
    Trevor Longino
    Communications Director
    Century Group
    407.540.0452 (Office)
    321.256.2939 (Direct)

    Mercantile Ascendency NewsWire - MANWIRE
    Angela Junell
    214.461.3500
    ajunell@mercantileascendency.com