After rebounding 23.7% in 2021, that followed a decline of over 27% in 2020, Borrell & Associates is reporting local advertising revenue for radio will decline 4.6% in 2022. Who will the big winners be?
The biggest winners next year will be Streaming Video (plus 18.5%), Streaming Audio (plus 17.8%) and local TV (plus 12.3%).
Borrell is forecasting an overall revenue increase from local businesses of 6.4% in 2022 with 9.1% of that increase coming from digital and 1.3% from non-digital platforms.
In 2022 digital platforms will take 67% of local advertising revenue, according to the latest numbers from Borrell. That’s up from 50% in 2017.
Borrell says that Google and Facebook remain the biggest revenue grabbers in the digital space. The exact quote used by Gordon Borrell in a webinar Tuesday was, “Digital has sucked the life out of advertising.”
At Forecast 2022 in New York City on November 16th, Gordon Borrell will moderate our Executive Super Session at 4:20PM. On the panel will be Cumulus CEO Mary Berner, Townsquaare CEO Bill Wilson and E.W. Scripps President Brian Lawlor.