Analytics group BIA Advisory Services has released its estimated ranking of OTA radio’s revenue leaders for 2022. BIA’s Investing In Radio Market Report shows local radio revenue continued to grow in the post-COVID era, reaching $13.6 billion in 2022 – a 7.4% raise over 2021’s $12.6 billion. Over-the-air advertising revenue increased by 2.2% to $11 billion, while digital income rose by 35% to $2.6 billion. The report emphasizes the significance of radio’s digital presence in maintaining its position in local markets.
Who Was Radio’s #1 Revenue Station?
Once again, Hubbard Washington D.C.’s WTOP topped the list with $69 million in OTA revenue. The entire top three remained unchanged from 2021, with iHeart LA’s KIIS bringing in an estimated $44.1 million and iHeart NYC’s WLTW pulling $35.1 million. From there, the list is shaken up from the year before. As the dashboard battle continues, it’s worth noting that three of the top ten are AM stations.
For comparison, here were 2021’s revenue results for 2022’s top ten:
- WTOP – $70 million
- KIIS – $43 million
- WLTW – $34.6 million
- WBZ – $33.4 million
- WHTZ – $33 million
- KBIG – $32.3 million
- WINS – $31.6 million
- WFAN – $31.5 million
- WBBM – $34 million
- WSB – $25.5 million
Looking ahead, the report predicts that without significant political spending, revenue growth in 2023 may face challenges. However, the anticipation is that political advertising in 2024 will begin earlier than usual and may extend into late 2023.
Station sales remain at a significantly lower volume post-COVID, despite a decent jump from 2021. Around 200 stations were sold in 2022, compared to more than 700 in 2019.
WBZ. AM or FM? they don’t simulcast