Global Traditional Radio Advertising Market is valued approximately USD XX million in 2021 and is anticipated to grow with a healthy growth rate of more than XX % over the forecast period 2022-2028. The Traditional Radio Advertising can be defined as commercials that air to the public through radio channels. Traditional Radio Advertising offers certain advantages such as wide audience reach, affordability, flexibility, and timely message delivery among others. The rising worldwide spending on radio advertising and cost effectiveness and wide reach associated with radio advertising as well as recent collaboration activities are factors that are accelerating the global market demand. For instance, according to Statista – in 2021, worldwide radio advertising spending was estimated at USD 27.9 billion, and this amount is projected to grow to USD 30 billion by end of 2024. Furthermore, in April 2021, India based Radio City partnered with Indian Premiere League (IPL) team Mumbai Indians. Under this partnership Radio City would amplify Team’s tagline ‘Yeh hai har Indian ki family’ on its radio channels across India. Moreover, in September 2021, Stockholm, Sweden based audio streaming and media services provider Spotify partnered with Indian based radio network BIG FM’s creative vertical ‘Centre of Excellence’ as their official ad-based production partner for Indian market. Also, growing advancements in radio technology and surging expansion of radio industry are anticipated to act as a catalyzing factor for the market demand during the forecast period. However, surging adoption of digital marketing tools and rising penetration of smartphones in emerging markets impede the growth of the market over the forecast period of 2022-2028.
The key regions considered for the global Traditional Radio Advertising Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to rising spending on radio advertising and rapid expansion of radio industry in the region. Whereas, Asia Pacific is anticipated to exhibit a significant growth rate over the forecast period 2022-2028. Factors such as recent collaboration and partnership activities and presence of leading radio advertisement industry in the region, would create lucrative growth prospects for the global Traditional Radio Advertising Market across the Asia Pacific region.
Major market players included in this report are:
Cumulus Media Inc.
Sirius XM Radio Inc.
Entercom Communications Corp.
National Public Radio Inc.
Strategic Media Inc.
The Radio Agency
Division of Labor
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Terrestrial Radio Broadcast Advertising
Satellite Radio Advertising
By End Use Industry
Media & Entertainment
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019, 2020
Base year – 2021
Forecast period – 2022 to 2028
Target Audience of the Global Traditional Radio Advertising Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers