With the FCC preparing to reopen the 2022 Quadrennial Review, the NAB has stepped up its campaign to end local radio ownership limits, meeting with advisors to Commissioners Anna Gomez and Olivia Trusty ahead of the next open meeting. In an ex parte filing, NAB leaders cited new Edison Research Share of Ear data showing AM/FM now accounts for 34% of U.S. audio consumption, down from 52.1% in 2014, while streaming holds 23%, YouTube 14%, and podcasts 10%.
The group argued the shift demands regulatory modernization, saying legacy caps hinder innovation as audio fragments across streaming and on-demand platforms. The Local Radio Ownership Rule, largely intact since 1996, restricts how many AM and FM stations a company may own in a market. NAB proposes lifting all limits in Nielsen markets 76 and below, permitting ownership of up to eight FM signals in markets 1–75, and removing caps on AM.
Action could come soon as the FCC moves to formally reopen the 2022 review. Chair Brendan Carr has labeled the rules obsolete and harmful to local broadcasting. The Commission is expected to examine the Local Radio Ownership Rule, the Local Television Rule, and the Dual Network Rule.
Supporting its case, NAB pointed to revenue and share trends: BIA Advisory Services projects total radio ad revenue at $12.17 billion in 2025, nearly 30% below 2007 levels, with deeper losses after inflation. Borrell Associates estimates 70% of local digital ad spend goes to platforms like Google and Meta, while broadcasters capture about 15%. NAB says greater flexibility would enable more diverse formats, stronger digital sales teams, and integrated audio solutions. The FCC’s next Open Meeting is set for September 30 at 10:30 a.m. ET.