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Radio Advertising Global Market Report 2023 – By Type (Traditional Radio Advertising, Terrestrial Radio Broadcast Advertising, Terrestrial Radio Online Advertising, Satellite Radio Advertising), By Industry Application (BFSI, Consumer Goods and Retail, Government and Public Sector, IT and Telecom, Healthcare, Media and Entertainment), By Enterprise Size (Large Enterprise, Small and Medium Enterprise) – Market Size, Trends, And Global Forecast 2023-2032

Starting Price : $4000.00 | Pages : 175 | Published : January 2023 | SKU CODE : r455 | Delivery Time: 2-3 business days | Format :


Radio advertising works by allowing advertisers to purchase airtime on various radio stations to air commercials or spots about their products or services. It allows advertisers an inexpensive way to get their voice heard again and again. The ability to stir emotions and create demand. It can also immediacy, driving shoppers to a specific store, brand or to take a specific action.

The main types of radio advertising are traditional radio advertising, terrestrial radio broadcast advertising, terrestrial radio online advertising, and satellite radio advertising. Traditional radio advertising uses radio commercials to promote products or services. Advertisers pay for airtime on commercial radio stations, and the radio station broadcasts the advertiser's commercial to its listeners. BFSI, consumer goods and retail, government and public sector, IT and telecom, healthcare, and media all use the services. The different sizes of enterprises include large enterprises, small and medium-sized enterprises.

The radio advertising market research report is one of a series of new reports from The Business Research Company that provides radio advertising market statistics, including radio advertising industry global market size, regional shares, competitors with a radio advertising market share, detailed radio advertising market segments, market trends and opportunities, and any further data you may need to thrive in the radio advertising industry. This radio advertising market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The global radio advertising market size will grow from $23.22 billion in 2022 to $24.84 billion in 2023 at a compound annual growth rate (CAGR) of 7.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global radio advertising market size is expected to grow to $31.37 billion in 2027 at a CAGR of 6.0%.

The demand for cost-effective advertising routes for big and small companies is expected to drive the demand for the radio advertising market. Although newer advertising platforms such as the internet and other digital media are gaining traction in the advertising market, radio still represents a powerful advertising medium due to its high cost-effectiveness. For smaller markets, companies spend about $900 a week for a 30-second ad schedule and around $8,000 a week in bigger markets such as Sydney. On average, companies pay around $20 to reach 1,000 listeners during peak times of the day and close to $10 or $15 during off-peak hours. Therefore, the cost-effective routes of advertising are predicted to fuel the demand for the radio advertising market.

A decrease in radio ad spending is likely to limit the growth of the radio advertising market. A decline in ad spending on traditional channels is part of a long-standing trend. The companies are investigating alternative business models and evaluating innovative emerging technologies such as online fixed programmatic display and mobile video that provide consumers with instant access to the content. However, the pandemic has caused a significant decline in radio ad spending by several industries due to social distancing, containment restrictions, and the closure of industries and other social activities. According to the Pitch Madison report, launched by Pitch, in partnership with Madison World, radio industry reported a 44% decline in advertising revenue in 2020. Moreover, according to Group M’s latest end-of-year forecast, in Canada, audio channel spending (largely consisting of radio advertising) dropped from $1.3 billion in 2019 to $890.9 million in 2020, which was a 2.8%-point drop. Radio ad spending has declined disproportionately in recent months due to advertisers' cutting their overall media budgets, which is likely to hinder the market's growth.

The launch of digital radio is gaining popularity in the radio advertising market. Digital radio gives users greater spectral efficiency. According to data from Radio Joint Audience Research Limited (RAJAR) published in October 2021, digital listening in the United Kingdom has increased to 65.8 percent of total radio listening. DAB has surpassed AM/FM as the most popular radio listening platform, accounting for 43 percent of total listening versus 34.2 percent for AM/FM. Moreover, if digital modulation methods that require more complex transmitters and receivers are used, more information could be transmitted in comparison to traditional analogue modulation schemes.

In May 2020, Bauer Radio, an UK-based media company, fully acquired First Radio Sales (FRS) for undisclosed amount. With the acquisition of First Radio Sales (FRS), Bauer Radio gained enhanced advertising offering including the stations from FRS. First Radio Sales (FRS) is a UK-based company that sales radio advertising on behalf of more than 100 independent local radio stations. In addition to providing cross-platform advertising services, FRS provides sponsorships, promotions, branded content, events, and digital marketing solutions to national and regional customers.

Major players in the radio advertising market are Sirius XM Radio Inc., iHeartMedia Inc., Entercom Communications Corp., Cumulus Media Inc., National Public Radio Inc., Strategic Media Inc., The Radio Agency, Jacob Tyler, Sid Lee and Citizen Group.

North America was the largest region in the radio advertising market in 2022. Western Europe was the second largest region in the global radio advertising market. The regions covered in the global radio advertising market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the radio advertising market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.

The radio advertising market consists of revenue earned by entities by providing services such as planning, developing, creating and managing advertisement and promotional activities in radio. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.

The global radio advertising market is segmented -

1) By Type: Traditional Radio Advertising, Terrestrial Radio Broadcast Advertising, Terrestrial Radio Online Advertising, Satellite Radio Advertising

2) By Industry Application: BFSI, Consumer Goods and Retail, Government and Public Sector, IT and Telecom, Healthcare, Media and Entertainment

3) By Enterprise Size: Large Enterprise, Small and Medium Enterprise

    Table Of Contents

    1. Executive Summary

    2. Radio Advertising Market Characteristics

    3. Radio Advertising Market Trends And Strategies

    4. Radio Advertising Market – Macro Economic Scenario

    4.1 COVID-19 Impact On Radio Advertising Market

    4.2 Ukraine-Russia War Impact On Radio Advertising Market

    4.3 Impact Of High Inflation On Radio Advertising Market

    5. Radio Advertising Market Size And Growth

    5.1. Global Radio Advertising Historic Market, 2017-2022, $ Billion

    5.1.1. Drivers Of The Market

    5.1.2. Restraints On The Market

    5.2. Global Radio Advertising Forecast Market, 2022-2027F, 2032F, $ Billion

    5.2.1. Drivers Of The Market

    5.2.2. Restraints On the Market

    6. Radio Advertising Market Segmentation

    6.1. Global Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    Traditional Radio Advertising

    Terrestrial Radio Broadcast Advertising

    Terrestrial Radio Online Advertising

    Satellite Radio Advertising

    6.2. Global Radio Advertising Market, Segmentation By Industry Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    BFSI

    Consumer Goods and Retail

    Government and Public Sector

    IT and Telecom

    Healthcare

    Media and Entertainment

    6.3. Global Radio Advertising Market, Segmentation By Enterprise Size, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    Large Enterprise

    Small and Medium Enterprise

    7. Radio Advertising Market Regional And Country Analysis

    7.1. Global Radio Advertising Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    7.2. Global Radio Advertising Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    8. Asia-Pacific Radio Advertising Market

    8.1. Asia-Pacific Radio Advertising Market Overview

    Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies

    8.2. Asia-Pacific Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    9. China Radio Advertising Market

    9.1. China Radio Advertising Market Overview

    9.2. China Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion

    10. India Radio Advertising Market

    10.1. India Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    11. Japan Radio Advertising Market

    11.1. Japan Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    12. Australia Radio Advertising Market

    12.1. Australia Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    13. Indonesia Radio Advertising Market

    13.1. Indonesia Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    14. South Korea Radio Advertising Market

    14.1. South Korea Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    15. Western Europe Radio Advertising Market

    15.1. Western Europe Radio Advertising Market Overview

    15.2. Western Europe Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    16. UK Radio Advertising Market

    16.1. UK Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    17. Germany Radio Advertising Market

    17.1. Germany Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    18. France Radio Advertising Market

    18.3. France Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    19. Eastern Europe Radio Advertising Market

    19.1. Eastern Europe Radio Advertising Market Overview

    19.2. Eastern Europe Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    20. Russia Radio Advertising Market

    20.1. Russia Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    21. North America Radio Advertising Market

    21.1. North America Radio Advertising Market Overview

    21.2. North America Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    22. USA Radio Advertising Market

    22.1. USA Radio Advertising Market Overview

    22.2. USA Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    23. South America Radio Advertising Market

    23.1. South America Radio Advertising Market Overview

    23.2. South America Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    24. Brazil Radio Advertising Market

    24.1. Brazil Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    25. Middle East Radio Advertising Market

    25.1. Middle East Radio Advertising Market Overview

    25.2. Middle East Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    26. Africa Radio Advertising Market

    26.1. Africa Radio Advertising Market Overview

    26.2. Africa Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    27. Radio Advertising Market Competitive Landscape And Company Profiles

    27.1. Radio Advertising Market Competitive Landscape

    27.2. Radio Advertising Market Company Profiles

    27.2.1. Sirius XM Radio Inc.

    27.2.1.1. Overview

    27.2.1.2. Products and Services

    27.2.1.3. Strategy

    27.2.1.4. Financial Performance

    27.2.2. iHeartMedia Inc.

    27.2.2.1. Overview

    27.2.2.2. Products and Services

    27.2.2.3. Strategy

    27.2.2.4. Financial Performance

    27.2.3. Entercom Communications Corp.

    27.2.3.1. Overview

    27.2.3.2. Products and Services

    27.2.3.3. Strategy

    27.2.3.4. Financial Performance

    27.2.4. Cumulus Media Inc.

    27.2.4.1. Overview

    27.2.4.2. Products and Services

    27.2.4.3. Strategy

    27.2.4.4. Financial Performance

    27.2.5. National Public Radio Inc.

    27.2.5.1. Overview

    27.2.5.2. Products and Services

    27.2.5.3. Strategy

    27.2.5.4. Financial Performance

    29. Key Mergers And Acquisitions In The Radio Advertising Market

    29. Radio Advertising Market Future Outlook and Potential Analysis

    30. Appendix

    30.1. Abbreviations

    30.2. Currencies

    30.3. Historic And Forecast Inflation Rates

    30.4. Research Inquiries

    30.5. The Business Research Company

    30.6. Copyright And Disclaimer

List Of Tables

    Table 1: Global Historic Market Growth, 2017-2022, $ Billion
  • Table 2: Global Forecast Market Growth, 2022-2027F, 2032F, $ Billion
  • Table 3: Global Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 4: Global Radio Advertising Market, Segmentation By Industry Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 5: Global Radio Advertising Market, Segmentation By Enterprise Size, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 6: Global Radio Advertising Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 7: Global Radio Advertising Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 8: Asia-Pacific, Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 9: China, Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 10: India, Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 11: Japan, Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 12: Australia, Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 13: Indonesia, Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 14: South Korea, Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 15: Western Europe, Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 16: UK, Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 17: Germany, Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 18: France, Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 19: Eastern Europe, Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 20: Russia, Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 21: North America, Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 22: USA, Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 23: South America, Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 24: Brazil, Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 25: Middle East, Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 26: Africa, Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 27: Sirius XM Radio Inc. Financial Performance
  • Table 28: iHeartMedia Inc. Financial Performance
  • Table 29: Entercom Communications Corp. Financial Performance
  • Table 30: Cumulus Media Inc. Financial Performance
  • Table 31: National Public Radio Inc. Financial Performance

List Of Figures

    Figure 1: Global Historic Market Growth, 2017-2022, $ Billion
  • Figure 2: Global Forecast Market Growth, 2022-2027F, 2032F, $ Billion
  • Figure 3: Global Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 4: Global Radio Advertising Market, Segmentation By Industry Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 5: Global Radio Advertising Market, Segmentation By Enterprise Size, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 6: Global Radio Advertising Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 7: Global Radio Advertising Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 8: Asia-Pacific, Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 9: China, Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 10: India, Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 11: Japan, Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 12: Australia, Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 13: Indonesia, Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 14: South Korea, Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 15: Western Europe, Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 16: UK, Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 17: Germany, Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 18: France, Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 19: Eastern Europe, Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 20: Russia, Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 21: North America, Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 22: USA, Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 23: South America, Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 24: Brazil, Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 25: Middle East, Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 26: Africa, Radio Advertising Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 27: Sirius XM Radio Inc. Financial Performance
  • Figure 28: iHeartMedia Inc. Financial Performance
  • Figure 29: Entercom Communications Corp. Financial Performance
  • Figure 30: Cumulus Media Inc. Financial Performance
  • Figure 31: National Public Radio Inc. Financial Performance
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