The Big Picture: Radio

Examines the adspend outlook for radio, taking into account the big picture view.
  • While many channels saw a swift bounce-back from reduced investment in 2023, global radio ad spend appears to have settled at a new, lower post-pandemic norm, with $27.3bn to be spent in 2023.
  • More than three-quarters (77.3%) of all global audio ad spend is forecast to go to radio broadcasters in 2023, down from 93.1% in 2016, as radio faces growing competition from digital audio streaming.
  • Local radio advertising has been especially badly hit since COVID-19, with US local radio ad investment forecast to reach $12.0bn in 2023, a 0.7% year-on-year decline.
  • Radio’s share of consumption outweighs its share of...

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