BIA/Kelsey has released initial data from its upcoming revisions to the firm's U.S. Local Media revenue estimates, with a downward revision to its Radio revenue forecast. Radio local revenue is now expected to increase by 2.2 percent over last year, to $14.868 billion in 2012. Over the air revenue will hit $14.377 billion, a 1.9 percent increase compared to 2011. BIA/Kelsey sees a 12.1 percent increase in online/digital revenue to $491 million.

In 2011, radio revenue was $14.553 billion overall, with $14.115 billion over the air and $438 million in digital/online revenue.

BIA/Kelsey has also revised its predictions for television and newspaper local revenue in 2012. TV revenue will climb to $20.3 billion, up 10 percent from 2011, which "is what we expected in a political year." However, the forecast for newspapers is gloomier, as the firm predicts an 8.1 percent decline in revenue, compared to its original five percent drop. The company says, "With some high-profile newspapers cutting back on the number of days being published and the continued erosion of readership, the outlook for newspapers is proving exceptionally more challenging than expected."