For the first time ever, the radio industry’s digital revenue for the year surpassed $2 billion in 2024. As almost one of every four dollars of the average station’s total revenue now comes from digital sales, the growth in this area is only expected to increase in 2025.
Radio’s digital revenue was $1.9 billion in 2023. With measured digital revenue reaching $2.1 billion in 2024, that total is projected to continue rising, with an additional $206 million expected in 2025, representing a 9.7% increase. The latest RAB-Borrell Associates Digital Benchmarking Report, sponsored by Marketron, points to streaming video as a key driver of new growth, surpassing streaming audio as radio’s top-performing digital product.
Three out of five radio advertisers plan to increase their digital ad spend by year’s end. Additionally, 82% of radio stations are actively working to convert digital-only buyers into radio advertisers. Yet, despite this growth, challenges remain.
While 71% of station managers rate their digital strategies positively, many acknowledge gaps in sales expertise. More stations are addressing this by implementing weekly sales training and revising compensation models to incentivize digital-first strategies. As competition from television, newspapers, and streaming platforms intensifies, the report urges radio stations to refine their digital roadmaps. With two-thirds of local advertisers not yet purchasing digital products from radio stations, the potential for further revenue growth remains strong.
Borrell Associates CEO Gordon Borrell remarked, “We’re still seeing positive effects from the 2020 pandemic, when radio stations doubled down on digital initiatives. Stations are embracing digital solutions, training sales teams, and adopting multiplatform strategies to compete in an evolving advertising landscape.”
Of the report, Marketron CEO Jimshade Chaudhari noted, “The local perspective makes these findings especially relevant, showing where stations can capitalize on new opportunities. We’re optimistic that local businesses are investing more of their dollars with radio companies and are committed to helping stations evolve, compete, and turn growth into lasting profitability.”
RAB President and CEO Mike Hulvey commented, “We are proud of our continued commitment to provide these important insights for the radio industry. There are many revenue opportunities for broadcast radio companies and their sellers. As radio continues to diversify and strengthen its services portfolio, revenue gains are possible above broadcast radio advertising.”
Marketron is the sponsor of the report.
The full RAB-Borrell Digital Benchmarking Report is now available to RAB members. A webinar featuring survey results, presented by RAB and Gordon Borrell, will be available for free to RAB members and survey participants at 1p ET on Wednesday, February 19.
