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  • CBS PACKAGES UNWRAPPED (Audio)
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  • A FIFTEEN MINUTE QUIZ
  • A FIFTEEN MINUTE QUIZ, JR.
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  • A JOHN GUEDEL PRODUCTION...
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  • MY FRIEND IRMA (Audio)
  • NBC's CHINESE MENU
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  • A NETWORK RADIO QUIZ
  • NICK CARTER (Audio)
  • ON A NOTE OF TRIUMPH - (Audio)
  • THE ONE, THE ONLY...GROUCHO! (Audio)
  • THE ORIGINAL ABC NETWORK
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  • PEOPLE ARE FUNNY (Audio)
  • PETRILLO!
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  • "PROFESSOR" JERRY COLONNA (Audio)
  • THE QUIZ KIDS (Audio)
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  • SERIALS, CEREALS & PREMIUMS (Audio)
  • THE SHADOW NOS. (Audio)
  • SHERLOCK HOLMES (Audio)
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  • SUS...PENSE! (Audio)
  • TALLULAH'S BIG SHOW (Audio)
  • THREE ERAS OF THE GOLDEN AGE
  • THREE LETTER CALLS
  • THURSDAY'S ALL TIME TOP TEN
  • TOP 40 RADIO'S ROOTS (Audio)
  • TRUTH OR CONSEQUENCES (Audio)
  • TUESDAY'S ALL TIME TOP TEN
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  • THE TWO STOOGES (Audio)
  • UNFILTERED CIGARETTE CLAIMS
  • V-E DAY (Very Early)
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  • WALTER WINCHELL (Audio)
  • THE WALTZ KING (Audio)
  • WAR OF THE WORLDS (Audio)
  • WAS AMERICAN IDLE?
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  • WE HOLD THESE TRUTHS (Audio)
  • WEDNESDAY'S ALL TIME TOP TEN
  • THE WHISTLER (Audio)
  • WORDS AT WAR (Audio)
  • YOU ARE THERE (Audio)
  • YOUR MONEY OR YOUR LIFE (Audio)
  • THE 1932-33 SEASON
  • THE 1933-34 SEASON
  • THE 1934-35 SEASON
  • THE 1935-36 SEASON
  • THE 1936-37 SEASON
  • THE 1937-38 SEASON
  • THE 1938-39 SEASON
  • THE 1939-40 SEASON
  • THE 1940-41 SEASON
  • THE 1941-42 SEASON
  • THE 1942-43 SEASON
  • THE 1943-44 SEASON
  • THE 1944-45 SEASON
  • THE 1945-46 SEASON
  • THE 1946-47 SEASON
  • THE 1947-48 SEASON
  • THE 1948-49 SEASON
  • THE 1949-50 SEASON
  • THE 1950-51 SEASON
  • THE 1951-52 SEASON
  • THE 1952-53 SEASON
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THE GOLD IN THE GOLDEN AGE

GOld Time Radio's historical post, Alchemists of The Air, takes the reader up to the beginning Network Radio's Golden Age and concludes at 1932 by predicting that over the next 21 years Network Radio's revenues would routinely exceed $100 Million annually and eventually reach over a Billion dollars.  Actually, both figures were easily obtained as this post reveals.  

This compilation of figures is presented as the revenue side to the ratings which justify our claim that 1932 to 1953 were Network Radio's greatest years of popularity and income. 

In terms of popularity, the networks' greatest single season was 1947-48, when the nation's Top 15 Programs registered an average 22.7 Nielsen rating, amounting to an estimated 8.15 Million homes. (1)  Likewise, the networks' greatest single year for revenue was 1948 when the four chains were a mere million dollars short of $200 Million in total gross billings, before commissions and expenses. (2) 


Calendar, (fiscal), year 1931 is the starting point for this project during which the networks grossed a combined total of nearly $35.8 Million - $9 Million for CBS and $26 Million for the two RCA networks, NBC and Blue.  Meanwhile, the entire Radio Industry grossed $56 Million from local, regional and national advertising. These revenues are reflected in the first year of this compilation, 1932.  
 - 
The first line of each annual summary ranks the networks according to their January through December Gross Revenue.  The second line indicates the increase or decease in gross revenues from the previous year -  not profit or loss. (3)  The third line indicates the growth or reduction of each network's affiliate size during the year.
                                                               1932
        NBC                           CBS                       Blue                             Network Totals 
   $13,752,228.                  $12,601,885              $11,444,390                             $37,798.503 
$ 140,612 = 1.0% (4)   $3,526,886=38.9%     $1,379,770=12.8%                   $ 2,006,504 = 5.6%
   28 Affiliates (36)         84  Affiliates                22 Affiliates                         
170 of 604, (28%). 
  Network billings equal 54% of the Radio Industry's total of 
$61,900,000,  ($5,900,000 = 9.5%).

Although the networks and entire Radio Industry gross nearly $38 Million and $62 Million, respectively, the Depression deepens, and eight radio stations cease operation, making a total of 77 stations going dark since 1927's plateau of 681.
                                                              1933
        NBC                           CBS                       Blue                            Network Totals  
  $11,695,067                   $10,063,506                 $8,644,489                           $30,403,062
$2,057,161=15.0%       $2,538,329=20.1%    $2,799,901=24.5%              $ 7,395,441 = 19.6% 
 28 Affiliates (36)            91 Affiliates               24 Affiliates                      179 of 599, (30%). 
  Network billings were
53% of the Radio Industry's total of $57,000,000, ($4,900,000 = 7.9%). 

This is the only year in which all of the networks and the entire industry fail to improve on their previous year.  
                                                             1934 
        NBC                        CBS                       Blue                              Network Totals  
   $16,420,049                 $14,825,425               $10,350,388                            $41,595,862 

​$
4,724,982=40.4%       $4,761,869=47.3%     $1,705,899=19.7%             $11,192,800  = 19.7%
 28 Affiliates (40)            92 Affiliates               20  Affiliates                       1
80 of 583, (31%). 
  Network billings were
57% of the Radio Industry's total of $72,800,000, ($15,800,000 = 27.7%)

Each network reverses the downward spiral of 1933.  Network billings' share of the entire industry's gross income, (57%), will be its all time high.  The number of stations in the country drops to its lowest of the era.
                                                            1935 
       NBC                       CBS                   Blue                 Mutual                Network Totals 
  $18,722,715             $17,637,824          $11,650,499             $697,421                   $48,708,459
$2,302,666=14.0%  $2,812,399=19.0% $1,300,111=12.6%                                $ 7,112,597 = 17.1%     27 Affiliates (41)      97 Affiliates           20 Affiliates           4 Affiliates           ​188 of 585, (32%). 
  Network billings were
43% of the Radio Industry's total of $112,600,000, ($39,800,000 = 55%).

Mutual begins its first full year of operation.  The Radio Industry passes $112 Million in revenue, reflecting a 55% recovery over 1934.
                                                                   1936 
​        CBS                      NBC                    Blue                   Mutual             Network Totals
   $23,168,148             $22,645,527           $11,878,423            $1,987,573              $59,679,671
$5,530,324 = 31.4% $3,922,812= 21%   $ 227,924 = 2.0%
  $1,290,152=185%  $10,971,212 = 22.5% 

  98 Affiliates           26 Affiliates (45)      18 Affiliates            39 Affiliates         226 of 616, (37%).   
  Network billings were
49% of the Radio Industry's total of $122,300,000, ($9,700,000 = 7.9%)

CBS overtakes NBC as the highest billing network with a record 31.4% revenue increase.  Mutual crashes the party with 39 affiliates and almost $2.0 Million in gross billings.  The networks sail by $50 Million in combined annual billings. 
                                                              1937 
         CBS                     NBC                     Blue                  Mutual           Network Totals
    $28,828,058             $27,171,965            $11,470,321           $1,949,654             $69,419,998
$5,659,910=24.4% $4,526,438=20.0%   $ 408,102 = 3.4%   $ 37,919 = 1.9%    $ 9,740,327= 16.3%
   105 Affiliates        30 Affiliates (48)         33 Affiliates          80 Affiliates        296 of 646, (46%). 
  Network billings were
42% of the Radio Industry's total of $164,600,000, ($42,300,000 = 34.6%)

CBS is the first network to reach 100 affiliates.  Blue and Mutual break their three year strings of annual gains - each makes money, just not as much as in 1936.   
                                                            
1938
       NBC                       CBS                      Blue                   Mutual           Network Totals
   $31,187,000              $27,345,397             $10,275,000            $2,920,324            $71,727,721
$4,015,035=14.8%  $1,482,663=5.5%   $1,195,321=10.4%  $ 970,670=49.8%   $ 2,307,723 = 3.3% 
 36 Affiliates (62)       110 Affiliates            44 Affiliates          107 Affiliates       359 of 689, (52%).   
   Network billings were
43% of the Radio Industry's total of $167,100,000, ($2,500,000 = 1.5%).

NBC is first to hit $30 Million annually and reclaims first place.  Mutual passes 100 affiliates. The networks combine to exceed $70 Million in gross revenue. 
                                                            1939 
       NBC                      CBS                      Blue                 Mutual             Network Totals
   $36,601,000             $34,540,000             $10,262,191         $3,330,000              $84,733,191
$5,414,000=17.4%  $7,194,605=26.3%  $ 12,809 = 0.12%  $ 409,676=14.0%  $13,005,470 = 18.1% 
 48 Affiliates (64)      113 Affiliates           55 Affiliates         116 Affiliates        396 of 792, (50%). 
Network billings equal 
46% of the Radio Industry's total of $183,800,000, ($16,700,000 = 10.0%).

CBS reverses its downturn and adds 26% billings to its books, chasing NBC around $35 Million while the network total nears $85 Million for the first time. Coincidentally, the Radio Industry nears $185 Million. Mutual becomes the largest network while Blue continues to add affiliates at the rate of eleven a year for the third straight year.
                                                            1940 
         CBS                   NBC                     Blue                    Mutual              Network Totals
    $41,026,000           $39,955,000          $11,863,000               $4,767,000               $97,611,000
$6,486,000=18.8%  $3,354,000=9.2%  $1,600,809=15.6%  $1,437,000=43.2%  $12,878,809 = 15.2%
  112 Affiliates         53 Affiliates (69)      60 Affiliates            160 Affiliates         
454 of 765, (59%). 
Network billings equal 
45% of the Radio Industry's total of $215,600,000, ($31,800,000 = 17.3%).

CBS reclaims first place in revenues which it will hold until 1946 while NBC wins the annual ratings wars.  The four networks begin a five year period of annual gains. The Radio Industry passes $200 Million per year and will never look back as it topples the Billion Dollar mark with over $1.165 Billion in gross billings since 1932.  Mutual adds 44 affiliates as more stations seek sources of national and international news.  
                                                           1941 
​       CBS                      NBC                   Blue                   Mutual             Network Totals
   ​$44,332,000             $41,654,000        $12,223,000             $7,301,000             $105,510,000 
$3,306,000=8.1%   $1,699,000=4.3%   $ 360,000=3.0%   $2,534,000=53.2%  $ 7,899,000 = 8.1%
  118 Affiliates        74 Affiliates (59)     92 Affiliates           166 Affiliates        509 of 831, (61%).
Network billings equal
43% of the Radio Industry's total of $247,200,000, ($31,600,000 = 14.7%).

The four networks' reach 500 affiliates and their combined revenues pass $100 Million.  Blue adds 32 affiliates and NBC picks up 21. Mutual scores an all-time high yearly increase of over $2.5 Million. 
                                                            1942   
        CBS                   NBC                      Blue                   Mutual             Network Totals
    $45,593,125         $44,023,000              $15,782,493            $9,636,122             $115,034,740
$1,261,125=2.8%  $2,369,000=5.7%    $3,559,493=29.1% $2,335,122=32.0%   $ 9,524,740 = 9.0%
   115 Affiliates       136 Affiliates           116 Affiliates         191 Affiliates          558 of 887, (63%).    Network billings equal 44% of the Radio Industry's total of $260,000,000, ($12,800,000 = 5.2%). 

Double-digit percentage gains by Mutual and Blue signal the networks' early wartime profits as radio becomes the prime source for wartime news and entertainment.
                                                                   1943
​           CBS                   NBC                    Blue                 Mutual                Network Totals 
     $57,952,744        $53,837,110           $24,869,948           $13,841,608                $150,501,410
$12,359,619=27.1%$9,814,110=22.3%$9,087,455=57.6% $4,205,486=43.6%  $35,466,670 = 30.8% 
   116 Affiliates      142 Affiliates         143 Affiliates          219 Affiliates           620 of 910, (68%). 
Network billings equal 
48% of the Radio Industry's total of $313,600,000, ($53,600,000 = 20.6%).

It's the banner year for Network Radio as CBS and NBC break the $50 Million barrier, Blue nears 25 Million and Mutual approaches $15 Million. Together they pass $150.5 Million. The Radio Industry doubles that figure as paper rationing limits newspaper and magazine production which pushes more advertisers to radio.  The Radio Industry finishes the year just $13.5 Million short of a cumulative $2 Billion in gross revenues since 1932, a goal it will reach in the first quarter of 1944.
                                                            1944  
         CBS                   NBC                   Blue                     Mutual              Network Totals
    $66,791,000           $63,012,000         $41,356,129              $19,533,650            $190,692,779
$8,838,256=15.3% $9,174,890=17.0%$16,486,181=66.3%$5,692,042=41.1%  $40,191,369 = 26.7%
  133 Affiliates       143 Affiliates         173 Affiliates            245  Affiliates        694 of 910, (76%).        Network billings remain 48% of the Radio Industry's total of $393,500,000, ($79,900 = 25.5%). 
The four networks combine for a record gain of over $40.1 Million in gross revenues.  CBS and NBC both pass $60 Million for the year, Blue/ABC tops 40 Million and Mutual nears 20 Mil.  Wartime restrictions temporarily halt the growth of stations at 910 while the networks add 74 affiliates.
                                             1945 
        CBS                     NBC                    ABC                 Mutual              Network Totals
    $65,724,851           $64,429,181          $40,045,966           $20,637,362            $190,837,360
$1,066,149=1.6%   
$1,417,181= 2.2%  $1,310,163=3.2%  $1,103,712=5.7%     $ 144,581 =  0.08%
   145 Affiliates      150 Affiliates       195 Affiliates       384 Affiliates        874 of 919, (95%).      Network billings equal 45% of the Radio Industry's total of $423,900,000, ($30,400,000 = 7.7%).

Led by Mutual's surge of 139 new affiliates, the networks grow to 874 stations and 95% of the entire industry.  Only a near sold-out situation stalls further revenue growth as the networks have gained 75% in gross income since 1941 and the industry has increased 73.7% .
                                                            1946 
         NBC                   CBS                   ABC                   Mutual              Network Totals
    $ 66,738,392          $60,064,000         $40,455,880            $25,907,202              $193,165,474 
$
2,309,211= 3.6% $5,660,851=8.6%  $ 409,914 = 1.0%   $5,269,840=25.5%    $2,328,114 = 1.2%
   155 Affiliates       147 Affiliates         195 Affiliates         384 Affiliates          881 of 948, (93%). 
 Network billings equal 
43% of the Radio Industry's total of $454,400,000, ($30,500,000 = 7.2%).

The first postwar year was easily the calm before the early television era and the next three years when nearly a thousand new radio stations, (964), would go on the air.  Mutual's aggressive sales policies add a near record $5.3 Million to its books.  Meanwhile, the Radio Industry passes $3 Billion in cumulative gross revenues since 1932.
                                             1947                                                       
       NBC                     CBS                    ABC                    Mutual              Network Totals
   $65,756,517            $59,250,964           $43,548,05             $22,372,711               $190,928,249
$ 
981,875 = 1.5%   $ 813,036 = 1.4%  $3,092,177=7.6%    $3,534,491=13.6%    $ 2,236,925 = 1.2%
  161 Affiliates          157 Affiliates         222 Affiliates         488 Affiliates     1,028 of 1,062, (97%).  Network billings equal 38% of the Radio Industry's total of $506,400,000, ($52,000,000= 11.4%). 

Mutual's addition of 104 new affiliates boosts the networks' population of stations to over  1,000 and their penetration of total stations to a record high 97%, but the chains drop over $2 Million of their 1946 billings and fall to less than 40% of the Radio Industry's gross. 
                                                           1948
         NBC                   CBS                     ABC                  Mutual               Network Totals
    $69,697,590          $62,265,105           $44,301,700           $22,769,464              $199,033,859
$
3,941,073=6.0%  $3,941,073=5.1%   $ 753,643 = 1.7%   $ 396,753 = 1.8%     $8,105,610 = 4.3%  
   167 Affiliates     162 Affiliates       256 Affiliates       519 Affiliates      1,104 of 1,621, (68%). Network billings were 35% of the Radio Industry's total of $561,600,000, ($55,200,000 = 10.9%).

Led by NBC's record setting $69.7 Million the networks combine to come "that close" to their first and only $200 Million year.  ABC sets its revenue record at $44.3 Million.  The surge of 559 new stations dwarfs the networks' addition of 76 new affiliates and reduces the networks' penetration to 68%.  Meanwhile, the Radio Industry rolls by $4 Billion in collective gross earnings since 1932 at $4.326 Billion.
                                                                   1949 
       NBC                     CBS                    ABC                   Mutual             Network Totals
   $64,013,296            $63,403,583          $42,342,225           $18,071,695             $187,830,799
$5,684,294=8.2%   $1,138,478=1.8%  $1,959,475=4.4%  $4,697,769=20.6%    $11,203,060 = 5.6%
  170 Affiliates          167 Affiliates         269 Affiliates        526 Affiliates     1,132 of 1,912,  (59%).     Network billings were 33% of  the Radio Industry's total of $571,000,000, ($9,400,000 = 1.7%).

The competition from 35 new television and 291 new radio stations drain the bottom line for three of the four networks and hand Mutual an historic drop in gross revenues.  Only CBS manages to show a meager gain over 1948's gross revenues.  Nevertheless, their combined billings for 1949 push the cumulative total of network gross revenues since 1932 to $2.07 Billion. 
                                                                   1950 ​
          CBS                 NBC                    ABC                   Mutual               Network Totals
     $70,774,669        $65,100,000           $35,124,625            $16,102,797              $187,102,091 
$7,371,086=11.6% $1,086,704=1.7%  $7,217,600=17%   $1,968,898=10.9%     $  728,608 = 0.4%
   173 Affiliates       172 Affiliates         282 Affiliates          543 Affiliates       1,170 of 2,086, (56%).   Network billings were 31% of the Radio Industry's total of $605,400,000, ($34,400,000 = 6.0%).

Against all trends CBS Radio records its all-time revenue high, becoming the only radio network to ever exceed $70 Million in gross billings.  Television's 47 new stations result in adding an estimated 50,000 new viewing homes a week.  The Radio Industry grows another 174 stations to top 2,000, 44% of which are independent, non-network outlets.  The Industry's cumulative gross income since 1932 surges to $5.5 Billion.
                                                                    1951 
        CBS                  NBC                      ABC                  Mutual               Network Totals 
   $68,784,773         $54,324,017             $33,242,182           $17,900,958              $174,251,930
$1,989,896=2.8% $10,775,983=16.6% $1,882,443=5.4% $1,798,161=11.2%    $12,850,161 = 6.9%
  183 Affiliates        180 Affiliates         295 Affiliates        552 Affiliates      1,210 of 2,232 , (54%).        Network billings  were 29% of the Radio Industry's total of $606,300,000, ($900,000 = 0.1%).

The networks shave $12.8 Million from their 1950 gross revenues as all four chains cut their nighttime rates from 15% to 25%.  For the first time the networks fall to less than 30% of the Radio Industry's gross revenue.  Adding insult to injury, the television networks' gross income passes the radio networks' by $6.5 Million.  
                                             1952   
        CBS                  NBC                      ABC                  Mutual             Network Totals                $59,511,209          $47,927,115            $35,023,033          $20,992,105            $163,453,462 
$9,273,564=13.5% $6,396,902=11.8%  $1,780,851=5.4%  $3,091,147=17.3%  $10,798,468 = 6.2%

​    194 
Affiliates       191 Affiliates          302 Affiliates          560 Affiliates     1,247 of 2,331, (53%).
    Network billings were 
26% of the  Radio Industry's total of $624,100,000, ($17,800 = 2.9%).

NBC falls to its lowest gross revenue in a decade and CBS registers its lowest sum in five years as the networks collectively fall to their lowest total gross revenue since 1943.  As television grows to 108 stations, radio adds another 99 stations and advertising competition becomes overwhelming, the Golden Age of Network Radio is definitely over.

About that claim that the Networks accounted for Billions of dollars in gross revenues:  The figure was passed at the end of 1944 when the cumulative income the four networks during the Golden Age since 1932 reached $1,103,416,396.  The networks more than doubled that amount by the end of 1952 when the sum reached $2,590,019,620.

CBS claimed first place in billings for eleven of the 21 years, collecting $934,584,266.  NBC was first for a ten years of the Golden Age with gross revenues of  $928,662,769. 
​
Blue/ABC was a constant third with $506,153,939, and Mutual totaled $230,718,646.
  

Because GOld Time Radio refers to Network Radio's Golden Age as 1932-53, we'll add the figures for the 22nd year:
                                             1953
       CBS                      NBC                    ABC                  Mutual               Network Totals
   $62,381,207            $45,151.077           $29,826,123            $23,158.000             $160,516,407 
$2,869,998=4.8%   $2,776,038=5.8%   $5,196,910=11.8% $1,780,851 = 8.5%   $3,937,055 = 2.4% 
  203 Affiliates         207 Affiliates          348 Affiliates          560 Affiliates     
1,318 of 2,391 (55%). 
    Network billings were 26% of the Radio Industry's total of $611,200,000, ($12,900 = 2.1%)

Network Radio was slowly evolving as television and independent local stations continued to chip away at its audience, first at night, then slowly through the day. By 1960 its transformation into a news and special events vehicle was almost complete and by then only a third of the country's nearly 3,500 AM stations were network affiliates.

Today, the Golden Age of Network Radio is simply a memory for a lingering few.  But as we've written before, it was a 21 year span when
four competing coast-to coast chains of AM radio stations linked by telephone lines combined to dominate American entertainment and information as no concentrated communications force ever had - or ever will again. 


(1) Network Radio Ratings were measured in terms of ten-month seasons, September through June. A programming profile and Top 50 ratings report for each year can be found in the 21 Gold Time Radio posts named for each season, (The 1932-33 Season, etc.).   

(2) Network revenue information was compiled from archived trade press reports of each year found in Variety and Broadcasting magazine.  Affiliate information and Industry Totals were obtained from Sterling & Kittross's Concise History of American Broadcasting.

(3)  For example, NBC earned $13.7 Million in 1932, which was $140,000 less than 1931 and CBS earned $12.6 Million in 1932, which was $3,500,000 more than 1931.

(4)   
NBC affiliate totals in parenthesis ( ) indicate "alternate" affiliates outside the Basic Network.
          Copyright © 2019, Jim Ramsburg, Estero FL    Email: tojimramsburg@gmail.com   
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