BIA Advisory Services has released its latest forecast for the local audio advertising market. The company notes that “while the shares of local Radio OTA (Over-the-Air) advertising is eroding, Radio Digital is increasing, providing radio stations an avenue to still increase their sales. Overall, BIA forecasts $14.7 billion will be spend in ad-supported local audio platforms including broadcast radio and digital audio. BIA’s full audio forecast covers the 2019-2026 time period.”
BIA’s local Audio estimate breaks out advertising revenue forecast for 2022 from each of these local ad-supported local audio platforms:
- Radio OTA (Over-the-Air) – $12.7 billion – All revenues generated by local radio stations for sale of time to either national or local advertisers from their over-the-air broadcasts. Does not include any advertising sold by the national radio networks.
- Radio Digital – $1.7 billion – All revenues generated by local radio stations from national, regional and local advertisers targeting a local market from their online activities. Includes display and streaming advertising revenue other than Pandora.
- Pandora – $400 million – Audio and display advertising revenue generated by Pandora from national, regional and local advertisers targeting a local market.
