Canada: radio advertising revenue 2003-2021

In 2021, radio advertising revenue in Canada amounted to approximately 1.06 billion U.S. dollars. This figure marked a drop of over 5.6 percent compared to the previous year, showing that the radio ad industry is still suffering from the effects of the coronavirus epidemic.

Radio industry in Canada

Canada’s radio industry has experienced ongoing revenue declines for the better part of a decade. In 2020, operating revenues from Canada’s radio sector plummeted from 1.86 billion to 1.57 billion Canadian dollars, and similar downward trends were registered for employee numbers, revenues from commercial radio stations, and many other industry metrics. That said, radio remains one of the most popular offline news sources in the country, and the number of radio stations in Canada has also been growing steadily since 2015.

Is radio advertising still effective?

While global radio ad spend dropped from approximately 34 billion to 26 billion U.S. dollars in 2020, most regions except North America have seen steady growth in advertising investments prior to the pandemic. Radio remains a popular source of news and entertainment for millions of listeners, and while many people only consume radio content in the car, it still makes for an impressive audience base. That said, more listeners now switch to online radio stations, and as marketers are aware of the ongoing changes in consumer behavior, the future of radio (advertising) will likely be digital.