Continuing with our series to show BIA’s Radio Share of Wallet analysis, let’s now look at BIA’s estimates for markets 101-110 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 101-110, in general, most of the markets in this grouping are expected to do quite well this year. The markets that stand out in their expectations to exceed the nationwide average include Wichita, KS; Toledo, OH; and Lexington-Fayette, KY. The two markets forecasted to be appreciably lower than the national average include Mobile AL and Springfield MA.
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.
