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.
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