This will come as no surprise as most everyone reading this is actually living it. BIA is reducing its 2020 Ad Revenue forecast down, from $14.3 billion to $12.8 billion. If that figure becomes a reality radio revenue would have decreased 10.7% from the final 2019 numbers.
Radio companies have been reporting anywhere from 30% to 60% revenue losses due to businesses being forced to close due to the pandemic. From the $12.8 billion BIA estimate, $11.4 billion is over-the-air and $1.4 billion is digital.
2020 will be the second consecutive year of radio revenue declines. The 2019 total of $13.8 billion was 1.6% less than 2018.