Traditional Radio Advertising Market size is expected to reach USD 28.5 billion by 2028

 Traditional Radio Advertising Industry Overview

The global traditional radio advertising market size was valued at USD 25.02 billion in 2021 and is expected to expand at a CAGR of 1.9% from 2022 to 2028.

 

Radio is an efficient and portable advertising medium that appeals to a broader audience across the globe, which may accelerate market growth. Moreover, radio provides wide demographic coverage to a varied audience via a number of programs such as media & entertainment, news, employment, and education, which in turn is expected to propel the market growth. Furthermore, increasing spending on traditional radio advertising by various industries owing to the cost-effectiveness is accelerating market growth over the last few years. Additionally, the growing urbanization and rising infrastructure development across the globe are anticipated to propel market growth in the forecast period.

 

Gather more insights about the market drivers, restrains and growth of the Global Traditional Radio Advertising Market


Traditional radio advertising is gaining popularity in the advertising world because it creates brand awareness among the people and also compliments the brand’s advertising campaigns on other channels, which has been projected to accelerate the market growth. However, newer advertising platforms like the internet and digital media are gaining traction in recent years is a major restraint for the market growth.

 

Moreover, many villages across the globe are still facing a lack of electricity and thus, radio signifies an influential medium of advertising in rural markets. However, the increasing smartphone penetration rate across the globe and the availability of affordable internet have led to a rise in the number of online radio audiences, which is restraining the growth of the traditional radio advertising market. Additionally, strict government regulation regarding broadcasting advertising is further hindering market growth.

 

The COVID-19 epidemic has negatively affected the traditional radio advertising business. In response to the pandemic, governments around the world implemented several measures to try to contain the virus, such as quarantines, shutdowns, travel bans and restrictions, and work-from-home orders. Moreover, the pandemic and subsequent slow economy impacted several core radio advertisers such as promoting community events, retail, and entrainment. These categories cut back on their marketing budgets, accelerating declines in advertising. However, the easing of several restrictions and rising investment in advertising in emerging economies are projected to drive market growth during the forecast period.

Browse through Grand View Research's Digital Media Industry Research Reports

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Key Companies Profile

Some of the key players operating in the traditional radio advertising market include: -

  • Cumulus Media Inc.
  • Sirius XM Radio Inc.
  • iHeartMedia Inc.
  • Entercom Communications Corp.
  • National Public Radio Inc.
  • Strategic Media Inc.
  • The Radio Agency
  • Jacob Tyler
  • Gumas
  • Division of Labor
  • Kiosk

 

Order a free sample PDF of Traditional Radio Advertising Market Intelligence Study, published by Grand View Research.

 

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