With the FCC poised to revisit the 2022 Quadrennial Review, the NAB is pushing full force for the elimination of local radio ownership limits, meeting with advisors to Commissioners Anna Gomez and Olivia Trusty days ahead of the Commission’s next open meeting.
In an ex parte filing about the meetings, NAB leaders presented updated Share of Ear data from Edison Research showing AM/FM radio now accounts for just 34% of all US audio consumption – down from 52.1% in 2014. By contrast, streaming music holds a 23% share, YouTube reaches 14%, and podcasts now capture 10%.
The group said this sharp shift underscores the need for regulatory modernization, arguing the existing rules are stifling innovation and preventing broadcasters from adapting to a fragmented audio economy dominated by streaming and on-demand platforms.
As it stands, the Local Radio Ownership Rule, unchanged since 1996, limits how many AM and FM stations a broadcaster can own in a single market. NAB is urging the Commission to lift all restrictions in Nielsen markets 76 and below and to allow ownership of up to eight FM signals in markets 1–75, with no cap on AM.
The push comes as the FCC prepares to vote later this month on formally reopening the 2022 Review. That move was announced by FCC Chairman Brendan Carr, who has openly criticized the rules as obsolete and harmful to the health of local broadcasting. In a September meeting, the Commission is expected to revisit the Local Radio Ownership Rule, the Local Television Rule, and the Dual Network Rule.
NAB cited revenue and market share trends in its recent advocacy. BIA Advisory Services estimates total radio ad revenue will fall to $12.17 billion in 2025—down nearly 30% from 2007. When adjusted for inflation, the losses are even deeper. Borrell Associates also found that 70% of local digital ad spend now goes to tech platforms like Google and Meta, with local broadcasters capturing just 15%.
The association says greater ownership flexibility would help broadcasters retool their operations, launch more diverse formats, build competitive digital sales teams, and offer the integrated audio solutions advertisers increasingly demand. They also noted that, post-1996, consolidation led to more, not fewer, formats being offered in local markets, but that variety has since plateaued under the current caps.
The FCC’s next Open Meeting is scheduled for September 30 at 10:30am Eastern.
