eMarketer is out with a new projection for radio revenue. Back in March eMarketer first predicted a revenue decline for radio in 2020 of 1%. As a result of the pandemic that prediction is now 25%.
eMarketer says radio revenue will rebound 16.8% in 2021 but that will be the high point for the industry. “Spending will incrementally decline after that and never reach pre-pandemic highs again.”
eMarketer admits that radio ad spending has declined disproportionately to its audience in recent months due to advertisers cutting their overall media budgets.