Radio Advertising Market Demand, Trends and Business Opportunities 2022-2027

Author: Elena Anderson

Marketing Manager

Report DescriptionAbout IMARC Group

International Market Analysis Research and Consulting Group is a leading adviser on management strategy and market research worldwide. We partner with clients in all regions and industry verticals to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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IMARC’s tailored approach combines unfathomable insight into the dynamics of companies and markets with close cooperation at all levels of the client organization. This ensures that our clients achieve unmatchable competitive advantage, build more proficient organizations, and secure lasting results.

Global Radio Advertising Market Research Report 2022-2027:

The latest report by IMARC Group, titled “ Global Radio Advertising Market Report & Forecast 2022-2027,” finds that the global radio advertising market size reached US$ 35.3 Billion in 2021.

Radio advertising involves broadcasting audio content to promote products or services during radio commercials or programs. It is an efficient and portable advertising medium that provides extensive demographic coverage to a broader audience through various programs, such as media and entertainment, news, employment, and education. Compared to television advertising, it is cheaper as no expenses are incurred in producing complex and visually appealing advertisements that lower the overall costs. As a result, radio advertising is gaining immense popularity among businesses to reach a vast audience and create brand awareness due to its cost-effectiveness and portability.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Global Radio Advertising Market Trends:

The improving radio accessibility owing to the increasing penetration of the internet and smartphones represents the primary factor driving the market growth. Besides this, the surging popularity of radio as the sole source of information and entertainment for individuals in remote and rural regions is another major growth-inducing factor. Additionally, since radio commercials appeal to a broader audience, brands and advertisers are rapidly shifting toward radio advertising to communicate with their target audiences. In line with this, the rising usage of radio advertising by international organizations and governing agencies of various countries for mass outreach programs has augmented product demand. Furthermore, there has been a significant shift among individuals toward listening to the radio while multi-tasking, including driving, exercising, playing video games, and performing daily chores. Along with this, the launch of in-car media apps that support radio is positively influencing market growth. Besides this, recent technological advancements, such as the introduction of radio automation software that allows broadcasters to upload and store pre-recorded audio content, such as songs, commercials, and interviews, and assists in operating multiple stations or channels, have propelled the market growth. Other factors, including the expanding online radio audiences, widespread availability of radio stations worldwide, increasing spending on radio ads, rapid urbanization, and improving infrastructure, are also providing a positive thrust to the market growth

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Looking forward, IMARC Group expects the market value to reach US$ 46.7 Billion by 2027, growing at a CAGR of 4.7% during 2022-2027.

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Key Market Segmentation

The research report includes the following segments:

Breakup by Type:

• Traditional Radio Advertising

• Terrestrial Radio Broadcast Advertising

• Terrestrial Radio Online Advertising

• Satellite Radio Advertising

Breakup by Key Regions:

• North America

• Europe

• Middle East & Africa

• Asia Pacific

• Latin America

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Competitive Landscape:

• WPP plc

• Omnicom Group Inc.

• Publicis Groupe S.A.

• The Interpublic Group of Companies

• Inc.

• Dentsu International Group.

Report Description

1. What is the impact of COVID-19 on the global radio advertising market?

2. What will be the global radio advertising market outlook during the forecast period (2022-2027)?

3. What was the global radio advertising market size in 2021?

4. What are the major global radio advertising market drivers?

5. What are the major global radio advertising market trends?

6. What is the global radio advertising market breakup by type?

7. What are the major regional markets in the global radio advertising industry?

8. Who are the leading players in the global radio advertising industry?

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Click here to visit the complete table of content with list of figures and tables: https://www.imarcgroup.com/radio-advertising-market/toc

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We are the trusted business partners to the world's leading corporates, governments, and institutions

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