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.
If the projections do not include the digital revenue then it is really incomplete, since digital was becoming and now is a key part of virtually everyone’s revenue. i.e. What do the projections look like with our digital included?
What a load. Anyone can make a “prediction”. The truth is, no one knows what will happen.
I could say radio will rebound to pre-pandemic levels and then get even better. That is my prediction. In addition, I will say that those radio broadcasters that are able to stay in the game, keep a full sales staff that are constantly pounding the pavement, the keyboard and the phones, along with adopting some creative ways of selling to stay afloat until the economy recovers will be the ones ideally positioned to have their sales take off like a rocket.
One of us will be right. I am betting it is me. Why not? I have a 50-50 chance just like emarketer does.
Wow! I wish I had a crystal ball!