Leadership and Service

 SRG Report: Public Radio Revenues 2017-2021

The five-year period from 2017 to 2021 was a challenging and disruptive half-decade for local public radio organizations. This critical SRG report presents results of key financial measures for local public radio stations from FY 2017 through FY 2021. Here are some of the most important findings:

• Covid-19 disruptions affected almost every aspect of public radio’s work, including major losses in out-of-home listening and associated drops in underwriting sponsorships; losses in foundation grants and, for many, individual contributions; and a shift to at-home work for most employees at most stations.

• Rising inflation in 2021, significantly outpacing annual changes over the previous decade, increased the impact of Covid-19 losses by eroding purchasing power of important revenue sources while operating costs increased.

• Policy changes at CPB, enacted following a 2019 review of the CSG program, began multiple shifts in funding toward smaller stations and those serving smaller populations.

• Historic federal stabilization programs that responded to the pandemic crisis brought millions in new funds to public radio that addressed many of the challenges above.

View the presentation: Revenue of Local Public Radio Organizations - 2017 to 2021