Table of contents 1. Executive summary 2. Commercial radio: All you need to know   a. What is commercial radio?     i. What is the role of commercial radio?     ii. Why advertise on commercial radio?   b. How has the European commercial radio market evolved?     i. Historical context     ii. Key recent events 3. The European radio market 2004   a. Market size and market shares by country     i. Relative market sizes: radio advertising as a percentage of GDP and as a share of total advertising     ii. Market development: why is there such a difference between country radio markets?       1. Competitive environment, including public service broadcasting       2. Regulation       3. Competition from other media: TV, regional press, internet   b. How do you measure competitiveness?     i. Critical success factors: brand, sales organisation, inventory usage, promotions, content     ii. Key performance indicators explained: reach, audience share, advertising share, power ratio   c. Historic growth rates 2001-2004   d. The key players (covering all major commercial radio groups)     i. Strategic grouping analysis     ii. Profitability analysis     iii. Typical cost structure 4. The road ahead: key trends in European commercial radio, 2005-2010   a. How is commercial radio developing?     i. Digital Audio Broadcasting     ii. Increasing choice / audience fragmentation     iii. Analysing new listening habits: threat or opportunity?   b. M&A: How is the ownership landscape developing?     i. What is driving M&A activity?     ii. M&A trends: in-country consolidation     iii. Cross-media and cross border acquisitions   c. Regulatory issues     i. Main regulatory issues and likely regulatory developments (ownership restrictions, licence allocations)     ii. Regulatory impact assessment   d. Where is the growth?     i. European radio market growth trends     ii. Commercial radio growth drivers     iii. Country growth forecasts, 2005-2010 5. Detailed market information, by country   a. About the radio market: key characteristics, brief history   b. Regulatory issues   c. The market landscape: key stations and radio broadcasting groups     i. Market size     ii. Market shares: share of advertising revenues     iii. Development of audience shares by station / radio broadcasting group, 2001-2005     iv. Impact of public radio including audience share     v. Overview of key stations: format, audience metrics and demographics     vi. Sales organisation   d. Comparison of company performance     i. Comparative data on revenue development, market share, audience share, reach and power ratio     ii. Key players’ strategies     iii. Market share trends 2001-2004     iv. EBITDA levels   e. Country benchmarking     i. Radio market as % GDP     ii. Radio’s share of total adspend     iii. Commercial radio share of total listening     iv. Audience / advertising share of market leader   f. Historic market growth (2001-2004)     i. Comparison to GDP growth     ii. Comparison to overall adspend   g. Digital and technology trends   h. 2005 performance and future growth prospects (forecasts 2005-2010) 6. Individual company summaries   a. Key facts (ownership, company history)   b. Acquisition history   c. Radio activities by country