While global advertising investments reached a record $1 trillion in 2024, driven by digital and retail media growth, GroupM’s End-of-Year Global Advertising Forecast expects traditional audio platforms to face challenges in the coming year.
Global audio advertising revenue, which includes AM/FM radio and digital audio platforms, is projected to remain flat in 2025. While digital audio continues to grow in popularity, traditional radio faces increasing competition from emerging digital formats and platforms.
The broader advertising industry achieved substantial growth in 2024, with global ad investments increasing by 9.5%. This growth pushed the industry past $1 trillion in revenue for the first time, excluding US political advertising. By the end of 2025, the market is expected to grow another 7.7% to reach $1.1 trillion, driven by pure-play digital advertising and retail media.
Digital advertising remains the strongest sector, projected to grow 12.4% globally in 2024. Retail media is emerging as a key player within digital advertising, with revenue expected to reach $177.1 billion in 2025, surpassing total TV revenue, including streaming.
Out-of-home advertising is benefiting from digital advancements, with digital out-of-home ads projected to account for 42% of OOH revenue by 2025. Meanwhile, print continues its decline, as consumers and advertisers increasingly favor digital platforms. GroupM notes that, unlike print, audio media is managing to maintain its position by adapting to changing audience behaviors and offering advertisers integrated campaigns that combine traditional and digital audio elements.
While radio’s growth is expected to plateau globally, it still offers unique value to advertisers seeking consistent audience engagement. GroupM’s key for radio in 2025 will be leveraging digital integration, exploring cross-platform opportunities, and maintaining its relevance amid the expanding dominance of digital ad formats.
Full insights are available through GroupM’s This Year Next Year 2024 End-of-Year Global Ad Forecast.
