Continuing with our weekly series to show BIA’s Radio Share of Wallet analysis, let’s now look at BIA’s estimates for markets 71-80 for 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 BIA’s estimates for markets 71-80, two markets stand out in their expectations to exceed the nationwide average: Knoxville, TN and Omaha-Council Bluffs, NE-IA. On the other hand, Charleston, SC and Bakersfield, CA are forecasted to be appreciably lower than the national average.
As radio operators work to grow revenue share in this challenging marketplace, BIA contends they need to focus on the full ad pie, not just direct radio competition. Competition comes from all media and digital. Addressing the Google-Facebook duopoly could help radio potentially tap into a steeper revenue growth curve and capture more of the larger market opportunity.
BIA’s forecast estimates cover radio’s share of wallet for 95 business categories. This is critical to develop successful sales campaigns focused on the best opportunities. Contact us if you’d like to drill into a specific business category.
BIA will be providing us with estimates for market groupings on a weekly basis so continue to check back for your market.