US radio advertising budgets grow 2% in 2004, driven by local radio

US radio ad spending totaled $21.411 bln in 2004, a 2% increase over 2003, according to Radio Advertising Bureau. National radio ad spending actually declined slightly for the year, dropping to $3.453 bln in 2004 from $3.470 bln in 2003. Local radio ad spending rose 3% to $14.479 bln, while network radio jumped 5% to $1.081 bln.