Radio Ad Spend
To determine the categories that are predicted to grow in terms of advertising spend for radio in 2020, for a sales project.
- Ad spending on radio in the UK valued at £23.5 billion in 2018.
- Online radio ad expenditure grew by 26.5% year-on-year in the UK.
- The Compound Annual Growth Rate (CAGR) of radio ad spend during 2018-2023 is expected to be 0.7%.
- Traditional broadcast represented $16 billion of ad spend out of the total $17.9 billion in 2019 in the US.
- Terestrial online radio is expected to see a CAGR of 7.1% in ad spending in the US during 2018-2023.
- Satellite radio advertising represented $181 million of ad spend in the US in 2019 and will go up to $209 million in 2023.
- Globally, radio ad spending is estimated to be $33.1 billion in 2018.
- The radio advertising market is categorized into "Traditional Radio Advertising, Terrestrial Radio Broadcast Advertising, Terrestrial Radio Online Advertising and Satellite Radio Advertising."
- The categorization can also be based on key industries using radio advertising.
- Ad spending in the US stood at $17.72 billion in 2018, which is expected to reach $17.89 billion in 2019 and $18.06 billion by 2020.
Proposed next steps:
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Our initial research suggests that information pertaining to the radio advertising industry can be found publicly. We recommend continuing the research by looking into the categories that are expected to grow in terms of ad spending in 2020 by determining the percentage growth for each category and their growth in 2019.
Please clarify the following:
1- Is this for the US or global?
2- What categories are you referring to, e.g. by radio type (online, traditional, etc.), by industry (tech, manufacturing, etc.)?