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The Radio Mercury Awards, the only competition exclusively devoted to radio and audio, was established in 1992 to encourage and reward the development of effective and creative radio commercials. The annual Radio Mercury Awards competition draws entries from advertising agencies, production houses, radio stations and educational institutions across the country. Approximately 21,000 commercials have competed in the Radio Mercury Awards and close to $3.5 million in prizes have been awarded over the past 32 years. The Radio Creative Fund (RCF), a nonprofit corporation funded by the radio industry, governs the Radio Mercury Awards. RAB produces the Radio Mercury Awards.