Market Insights Advertising & Media Advertising Audio Advertising

Traditional Radio Advertising - Worldwide

Worldwide

Ad spending in the Traditional Radio Advertising market is projected to reach US$28.61bn in 2023.
Ad spending is expected to show an annual growth rate (CAGR 2023-2028) of -0.37%, resulting in a projected market volume of US$28.08bn by 2028.
In the Traditional Radio Advertising market, the number of listeners is expected to amount to 3.2bn users by 2028.
The average ad spending per radio listener in the Traditional Radio Advertising market is projected to amount to US$9.33 in 2023.

Key regions: Asia, Europe, India, United States, United Kingdom

Market

Region

Region comparison

Currency

Methodology

Data coverage:

Data encompasses enterprises (B2B). Figures are based on traditional radio advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers advertising spending in broadcasting programs on terrestrial radio stations or networks.

Modeling approach:

Market size is determined by a combined top-down and bottom-up approach. We use industry association reports, third-party reports, and survey results from our primary research (e.g., Statista Global Consumer Survey) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP, population, media consumption, internet users, and consumer spending.

Forecasts:

We use a variety of forecasting techniques, depending on the behavior of the market. For instance, the S-curve function is well suited to forecast digital products due to the non-linear growth of technology adoption, whereas exponential trend smoothing (ETS) is more suited for projecting steady growth in traditional advertising markets.

Additional notes:

Data is modeled using current exchange rates. The impacts of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice per year in case market dynamics change.