According to the latest report by IMARC Group titled, “Global Radio Advertising Market Report & Forecast 2021-2026’’ the global radio advertising market was valued at US$ 38.1 Billion in 2020. Looking forward, IMARC Group expects the global market to exhibit moderate growth during 2021-2026.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Radio advertising represents one of the cheapest modes of advertising as only audio content is broadcasted with no expense involved in creating complex and eye-catching advertisements, thereby, bringing down the overall cost. Apart from this, even in the middle of tough competition from other modes of media advertising, radio advertising still bears potential to keep a firm hold in the market.
The report analyses some factors which have been contributory in promoting the radio advertising market. Radio generally covers only a specific radius of an area, often regions where literacy rate is low or people understand only the regional vernacular. In this scenario, radio advertisers can design the ad-content according to their needs, thereby generating a consumer-base in these far-off regions. Apart from this, listening to radio on smart phones is also emerging as a widespread tendency in the urban regions. According to a study, nearly eighty percent of listening takes place during multi-tasking such as while driving, exercising, performing daily chores, playing video-games, etc. This provides remarkable opportunities to radio advertisers to grasp the attention of potential consumers which visual media does not offer.
The report has assessed the market on the basis of service type. Some of the segments evaluated in the report include radio advertising; terrestrial radio broadcast advertising, terrestrial radio online advertising and satellite radio advertising. Apart from this, the report also covers the key industries which are actively using radio advertising. Furthermore, an evaluation on the key regions in the market is given, which include North America, Asia-Pacific, Latin America and Europe, Middle East & Africa (EMEA). Amongst these, North America represents the largest market of radio advertising. The details of the key players operating in the market are also provided.
This report provides a deep insight into the global radio advertising industry covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, Porter’s five forces analysis, radio advertising pricing models, margins in radio advertising, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the radio advertising industry in any manner.
Radio Advertising Market 2021-2026 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the radio advertising market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- WPP PLC
- Omnicom Group Inc.
- Publicis Groupe
- The Interpublic Group of Companies, Inc.
- Dentsu Inc.
Key Market Segmentation:
The report has segmented the radio advertising market on the basis of type and region.
Breakup by Type:
- Traditional Radio Advertising
- Terrestrial Radio Broadcast Advertising
- Terrestrial Radio Online Advertising
- Satellite Radio Advertising
Breakup by Region:
- North America
- urope, Middle East & Africa
- Asia Pacific
- Latin America
Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/radio-advertising-market
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Industry Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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