As Congress works to address the deepening crisis faced by businesses across the country, legislators should provide immediate relief to local radio and television stations to ensure they can stay on the air and continue to serve and inform their communities throughout the COVID-19 pandemic and beyond.
Radio and television broadcasters are on the front lines of the nation's COVID-19 response, informing and educating communities to help keep people safe. In addition to around-the-clock news coverage that keeps the public apprised of ever-changing government recommendations, broadcasters have donated a tremendous amount of airtime - worth nearly $100 million - to public service announcements aimed at preventing the spread of COVID-19.
Local broadcasters rely on advertising revenue to fund their operations and provide critical local news and emergency updates. As local businesses grind to a halt across the country, this ad revenue from local restaurants, car dealers and retail stores, among others has taken a significant hit. Analysts suggest that this trend will only worsen, and advertising carried by traditional media could decline by as much as 43 percent in in the near term, according to a nationwide survey.
As a result of this unprecedented and sudden loss in revenue, broadcast stations have been devastated, forcing many to reduce their workforce and others to shut down completely. For example:
The bottom line:
As Congress enacts additional COVID-19 stimulus and relief measures, it should include provisions that help bring immediate liquidity to struggling local radio and television stations that are needed now more than ever. Without relief, the local journalism and essential public services that broadcasters provide will begin to disappear. Many of these stations - particularly smaller radio stations - may never return.
For these reasons, local broadcasters urge Congress to consider:
NAB is advocating on behalf of broadcasters to ensure stations can stay on the air to serve their communities during this critical time. Click the button below to find resources to help you navigate the challenges presented by the COVID-19 pandemic and assist in NAB's efforts to secure additional relief for stations.Access Resources