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2022 AM/FM Radio Revs Projected to Rise 6-8 Percent
RADIO ONLINE | Tuesday, November 23, 2021 |
As the end of 2021 nears, the Cumulus Media Westwood One Audio Active Group assessed leading revenue forecasts and key trends to watch for in the coming year. This week's blog outlines the key findings and major audio trends predicted for 2022. Among the key takeaways, AM/FM radio revenue growth is projected to rise 6 to 8 percent, while podcasts will grow 31 percent.
Other findings included:
- Of the big ten categories that represent 60% of local revenues, there are five to watch: auto, TV/cable, healthcare, home improvement, and communications/cellular. Travel and entertainment should also surge.
- Network: Look for continued growth in pharmaceutical, financial, business-to-business brands, recruitment, consumer packaged goods, restaurants, insurance, and auto.
- A return to work and labor force participation will determine future AM/FM radio audience growth.
- Ad-supported audio: AM/FM radio remains dominant, AM/FM radio streaming passes Pandora and Spotify, podcasts continue to explode and Pandora collapses.
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