Dublin, Jan. 18, 2024 (GLOBE NEWSWIRE) -- The "Traditional Radio Advertising Global Market Opportunities and Strategies to 2032" report has been added to ResearchAndMarkets.com's offering.
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.
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.
Report Scope
Markets Covered:
- By Type: Terrestrial Radio Broadcast Advertising; Satellite Radio Advertising
- By Enterprise Size: Large Enterprise; Small and Medium Enterprise
- By Industry Vertical: Automotive; Financial Services; Media and Entertainment; Fast-Moving Consumer Goods (FCMG); Retail; Real Estate; Education; Other Industry Verticals
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.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 250 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value (USD) in 2021 | $23.3 Billion |
| Forecasted Market Value (USD) by 2031 | $26.5 Billion |
| Compound Annual Growth Rate | 1.3% |
| Regions Covered | Global |
Company Profiles
- Cumulus Media
- Hubbard Broadcasting
- iHeartMedia
- Cox Media Group
- Entercom Communications
- National Public Radio
- Univision
- Townsquare Media
- Alpha Media
- Urban One, Inc
- Growth Elements Private Limited
- Shrex Design
- Loopy Links
- Granth Creations
- Exopic Media
- Foresight Advertising Pvt Ltd
- China Media Group
- Blue focus Group
- SGK
- Gab China
- DESENO MEDIA AGENCY
- Sootoo Network
- Fun Agency
- Strawman
- Accord Marketing
- Big Cat
- The Media Angel
- M3. agency
- Five by Five
- Forever Audio
- Retro FM
- Dorozhnoye Radio
- Studio 21
- Evolution Media
- Slon Media
- iHeartMedia, Inc.
- Entercom Communications Corp
- Townsquare Media, Inc.
- Beasley Broadcast Group, Inc.
- Rogers Media Inc.
- Corus Entertainment Inc.
- Bell Media Inc
- Stingray Group Inc
- Vista Radio Ltd.
- Grupo Radio Centro
- Grupo Radiorama
- Grupo Televisa
- NRM Comunicaciones
- Grupo Globo
- Grupo Bandeirantes de Comunicacao
- Jovem Pan
- Grupo Estado
- Rede Transamerica
- Grupo Clarin
- Radio Mitre
- Radio La Red
- Radio Continental
- Grupo America
- Ibero Americana Radio Chile
- Mega Media
- Emisoras Unidas
- Caracol Radio
- RCN Radio
- Bluradio
- Grupo RPP
- CRP Radios
- Grupo Panamericana de Radios
- Kan
- Galei Zahal
- Reshet Bet
- Saudi Broadcasting Corporation (SBC)
- Rotana Group
- MBC Group
- Emirates Media Incorporated (EMI)
- Abu Dhabi Media
- Dubai Media Incorporated (DMI)
- Qatar Media Corporation (QMC)
- Qatar Broadcasting Service (QBS)
- Al Rayyan Media and Marketing Company
- Live Communications
- Element15 Brand and Marketing Agency
- Geeklab
- Watson Ferguson Marketing Agency
- Face for Radio
- Armada
- Buried Treasure Holdings
For more information about this report visit https://www.researchandmarkets.com/r/r97ymp
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