This report describes and explains the traditional radio advertising market and covers 2017-2022, termed the historic period, and 2022-2027, 2032F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global traditional radio advertising market reached a value of nearly $23.25 billion in 2022, having grown at a compound annual growth rate (CAGR) of -0.5% since 2017. The market is expected to grow from $23.25 billion in 2022 to $25.04 billion in 2027 at a rate of 1.5%. The market is then expected to grow at a CAGR of 1.1% from 2027 and reach $26.47 billion in 2032.
Growth in the historic period resulted from the rising adoption of digital radio, growing urbanization and increasing infrastructure development. Factors that negatively affected growth in the historic period were the decline in radio Ad spending.
Going forward, rising demand for cost-effective advertising routes, growing number of radio listeners and increase in advertising spending across industries will drive the growth. Factors that could hinder the growth of the traditional radio advertising market in the future include stringent laws and regulations.
The traditional radio advertising market is segmented type into terrestrial radio broadcast advertising and satellite radio advertising. The terrestrial radio broadcast advertising market was the largest segment of the traditional radio advertising market segmented by type, accounting for 73.9% or $17.19 billion of the total in 2022. Going forward, the satellite radio advertising segment is expected to be the fastest growing segment in the traditional radio advertising market segmented by type, at a CAGR of 2.1% during 2022-2027.
The traditional radio advertising market is segmented by enterprise size into large enterprise and small and medium enterprise. The small and medium enterprise market was the largest segment of the traditional radio advertising market segmented by enterprise size, accounting for 76.5% or $17.79 billion of the total in 2022. Going forward, the small and medium enterprise segment is expected to be the fastest growing segment in the traditional radio advertising market segmented by enterprise size, at a CAGR of 1.54% during 2022-2027.
The traditional radio advertising market is segmented by industry vertical into automotive, financial services, media and entertainment, fast-moving consumer goods (FCMG), retail, real estate, education and other industry verticals. The other industry verticals market was the largest segment of the seed market segmented by industry vertical, accounting for 18.4% or $4.28 billion of the total in 2022. Going forward, the media and entertainment segment is expected to be the fastest growing segment in the traditional radio advertising market segmented by industry vertical, at a CAGR of 1.9% during 2022-2027.
North America was the largest region in the traditional radio advertising market, accounting for 44.4% or $10.33 billion of the total in 2022. It was followed by Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the traditional radio advertising market will be Asia Pacific and South America where growth will be at CAGRs of 1.9% and 1.8% respectively. These will be followed by Middle East and Africa where the markets are expected to grow at CAGRs of 1.6% and 1.5% respectively.
The global traditional radio advertising market is fairly fragmented, with a few large players operating in the market. The top ten competitors in the market made up to 13.97% of the total market in 2022. The market concentration can be attributed to the presence of large number of players in different geographies. Cumulus Media Inc was the largest competitor with a 4.1% share of the market, followed by Hubbard Broadcasting Inc with 1.8%, iHeartMedia Inc with 1.3%, Cox Media Group with 1.2%, Entercom Communications Corp with 1.1%, National Public Radio Inc with 1.0%, Univision with 1.0%, Townsquare Media Inc with 1.0%, Alpha Media with 0.8% and Urban One, Inc with 0.8%.
The top opportunities in the traditional radio advertising market segmented by type will arise in the terrestrial radio broadcast advertising segment, which will gain $1.13 billion of global annual sales by 2027. The top opportunities in the traditional radio advertising market segmented by enterprise size will arise in the small and medium enterprise segment, which will gain $1.41 billion of global annual sales by 2027. The top opportunities in the traditional radio advertising market segmented by industry vertical will arise in the Other industry verticals segment, which will gain $387.1 million of global annual sales by 2027. The traditional radio advertising market size will gain the most in USA at $797.1 million.
Market-trend-based strategies for the traditional radio advertising market include focus on digital radio for improved communications, use of AI powered analytics in radio advertising, technology developments in antenna-integrated radio (AIR) and strategic partnerships and collaborations among market players.
Player-adopted strategies in the traditional radio advertising market include focus on enhancing business operations through new approaches in advertisements, expanding business capabilities through establishing new advertising organizations, strengthening operational capabilities and geographic expansion through strategic partnerships and collaborations and enhancing business operations through new mergers and acquisitions.
To take advantage of the opportunities, the analyst recommends the traditional radio advertising companies to focus on digital radio for improved communications, use AI powered analytics in radio advertising, focus on technology developments in antenna-integrated radio (AIR), focus on fast-growing advertising types, expand in emerging markets, continue to focus on developed markets, focus on competitive pricing, focus on strategic partnerships and collaborations, participate in trade shows and events, continue to focus on B2B promotions and focus on fast-growing industry verticals.
The global traditional radio advertising market reached a value of nearly $23.25 billion in 2022, having grown at a compound annual growth rate (CAGR) of -0.5% since 2017. The market is expected to grow from $23.25 billion in 2022 to $25.04 billion in 2027 at a rate of 1.5%. The market is then expected to grow at a CAGR of 1.1% from 2027 and reach $26.47 billion in 2032.
Growth in the historic period resulted from the rising adoption of digital radio, growing urbanization and increasing infrastructure development. Factors that negatively affected growth in the historic period were the decline in radio Ad spending.
Going forward, rising demand for cost-effective advertising routes, growing number of radio listeners and increase in advertising spending across industries will drive the growth. Factors that could hinder the growth of the traditional radio advertising market in the future include stringent laws and regulations.
The traditional radio advertising market is segmented type into terrestrial radio broadcast advertising and satellite radio advertising. The terrestrial radio broadcast advertising market was the largest segment of the traditional radio advertising market segmented by type, accounting for 73.9% or $17.19 billion of the total in 2022. Going forward, the satellite radio advertising segment is expected to be the fastest growing segment in the traditional radio advertising market segmented by type, at a CAGR of 2.1% during 2022-2027.
The traditional radio advertising market is segmented by enterprise size into large enterprise and small and medium enterprise. The small and medium enterprise market was the largest segment of the traditional radio advertising market segmented by enterprise size, accounting for 76.5% or $17.79 billion of the total in 2022. Going forward, the small and medium enterprise segment is expected to be the fastest growing segment in the traditional radio advertising market segmented by enterprise size, at a CAGR of 1.54% during 2022-2027.
The traditional radio advertising market is segmented by industry vertical into automotive, financial services, media and entertainment, fast-moving consumer goods (FCMG), retail, real estate, education and other industry verticals. The other industry verticals market was the largest segment of the seed market segmented by industry vertical, accounting for 18.4% or $4.28 billion of the total in 2022. Going forward, the media and entertainment segment is expected to be the fastest growing segment in the traditional radio advertising market segmented by industry vertical, at a CAGR of 1.9% during 2022-2027.
North America was the largest region in the traditional radio advertising market, accounting for 44.4% or $10.33 billion of the total in 2022. It was followed by Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the traditional radio advertising market will be Asia Pacific and South America where growth will be at CAGRs of 1.9% and 1.8% respectively. These will be followed by Middle East and Africa where the markets are expected to grow at CAGRs of 1.6% and 1.5% respectively.
The global traditional radio advertising market is fairly fragmented, with a few large players operating in the market. The top ten competitors in the market made up to 13.97% of the total market in 2022. The market concentration can be attributed to the presence of large number of players in different geographies. Cumulus Media Inc was the largest competitor with a 4.1% share of the market, followed by Hubbard Broadcasting Inc with 1.8%, iHeartMedia Inc with 1.3%, Cox Media Group with 1.2%, Entercom Communications Corp with 1.1%, National Public Radio Inc with 1.0%, Univision with 1.0%, Townsquare Media Inc with 1.0%, Alpha Media with 0.8% and Urban One, Inc with 0.8%.
The top opportunities in the traditional radio advertising market segmented by type will arise in the terrestrial radio broadcast advertising segment, which will gain $1.13 billion of global annual sales by 2027. The top opportunities in the traditional radio advertising market segmented by enterprise size will arise in the small and medium enterprise segment, which will gain $1.41 billion of global annual sales by 2027. The top opportunities in the traditional radio advertising market segmented by industry vertical will arise in the Other industry verticals segment, which will gain $387.1 million of global annual sales by 2027. The traditional radio advertising market size will gain the most in USA at $797.1 million.
Market-trend-based strategies for the traditional radio advertising market include focus on digital radio for improved communications, use of AI powered analytics in radio advertising, technology developments in antenna-integrated radio (AIR) and strategic partnerships and collaborations among market players.
Player-adopted strategies in the traditional radio advertising market include focus on enhancing business operations through new approaches in advertisements, expanding business capabilities through establishing new advertising organizations, strengthening operational capabilities and geographic expansion through strategic partnerships and collaborations and enhancing business operations through new mergers and acquisitions.
To take advantage of the opportunities, the analyst recommends the traditional radio advertising companies to focus on digital radio for improved communications, use AI powered analytics in radio advertising, focus on technology developments in antenna-integrated radio (AIR), focus on fast-growing advertising types, expand in emerging markets, continue to focus on developed markets, focus on competitive pricing, focus on strategic partnerships and collaborations, participate in trade shows and events, continue to focus on B2B promotions and focus on fast-growing industry verticals.
Table of Contents
1 Executive Summary
6 Market Characteristics
7 Major Market Trends
8 Traditional Radio Advertising Market - Macro Economic Scenario
9 Global Market Size and Growth
10 Global Traditional Radio Advertising Market Segmentation
11 Traditional Radio Advertising Market, Regional and Country Analysis
12 Asia-Pacific Market
13 Western Europe Market
14 Eastern Europe Market
15 North America Market
16 South America Market
17 Middle East Market
18 Africa Market
19 Competitive Landscape and Company Profiles
20 Key Mergers and Acquisitions
21 Opportunities and Strategies
22 Traditional Radio Advertising Market, Conclusions and Recommendations
23 Appendix
Executive Summary
Traditional Radio Advertising Global Market Opportunities and Strategies to 2032 provides the strategists; marketers and senior management with the critical information they need to assess the global traditional radio advertising market as it emerges from the COVID-19 shut down.Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 12 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis
Description
Where is the largest and fastest growing market for traditional radio advertising? How does the market relate to the overall economy, demography, and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider traditional radio advertising market; and compares it with other markets.
The report covers the following chapters:
- Introduction and Market Characteristics:
- Key Trends:
- Macro: Economic Scenario:
- Global Market Size and Growth:
- Regional and Country Analysis:
- Market Segmentation:
- Regional Market Size and Growth:
- Competitive Landscape:
- Key Mergers and Acquisitions:
- Market Opportunities and Strategies:
- Conclusions and Recommendations:
- Appendix:
Scope
Markets Covered:1) By Type: Terrestrial Radio Broadcast Advertising; Satellite Radio Advertising
2) By Enterprise Size: Large Enterprise; Small and Medium Enterprise
3) By Industry Vertical: Automotive; Financial Services; Media and Entertainment; Fast-Moving Consumer Goods (FCMG); Retail; Real Estate; Education; Other Industry Verticals
Companies Mentioned: Cumulus Media Inc; Hubbard Broadcasting Inc; iHeartMedia Inc; Cox Media Group; Entercom Communications Corp.
Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Brazil; France; Germany; UK; Russia
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; traditional radio advertising indicators comparison.
Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 250 |
Published | January 2024 |
Forecast Period | 2021 - 2031 |
Estimated Market Value ( USD | $ 23.3 Billion |
Forecasted Market Value ( USD | $ 26.5 Billion |
Compound Annual Growth Rate | 1.3% |
Regions Covered | Global |