Radio ownership increased in Q1
2024, per FCC records, with a notable surge in noncommercial FM licenses, largely
attributed to religious broadcasters. FM commercial stations remained steady, while FM
educational stations saw growth. However, AM band ownership declined, possibly due
to revenue challenges and regulatory issues. FM translator and booster licenses
decreased slightly, likely linked to AM stations moving to FM. Low Power FM licenses
also saw a slight decline but are expected to rise as the FCC reviews applications
following the first LPFM application window in ten years. Overall, religious radio’s
expansion remains prominent amidst industry shifts.