Radio Broadcasting

Revenue for the Radio Broadcasting industry has grown staticky over the five years to 2022, primarily due to intense external competition from mobile media formats. Services such as Spotify, podcasting applications and mobile video consumption have been major sources of competition for radio broadcasters over the past five years as consumers look for more control and more multimedia impact in their entertainment. (Industry definitions require curation of live content by operators.) However, despite rising competition from alternative media, radio maintains a strong weekly reach of more than 82.5% of United States adults and has continued to be a valued channel to bring in advertising dollars. Over the five years to 2022, industry revenue is expected to rise at an annualized rate of 0.1% to $23.6 billion, with an anticipated 1.5% rise in 2022 as the industry continues to recover from COVID-19 (coronavirus) lows.