Continuing with our weekly series displaying BIA’s Radio Share of Wallet analysis, let’s now look at BIA’s estimates for markets 11 to 20 for 2021. What will radio’s share of revenue be in 2021?
BIA’s new 2021 U.S. Local Ad Forecast estimates that revenue across all media will reach $137.5 billion and that radio’s share will grow to 9.2 percent. As you look at the estimates for these markets you will note that Phoenix, Denver and San Diego are expected to be well above the national average. On the downside, Nassau-Suffolk are well below the national average.
BIA maintains that radio operators should not only focus on direct radio competition, but on the full ad pie. To grow your revenue share in this challenging marketplace, focus on taking share away from other traditional media and continuing to grow your online revenue. BIA’s research also looks at radio’s share of wallet for 95 business categories. This is critical to develop successful sales campaigns focused on the best opportunities.
