That’s good news for radio station owners, who are investing heavily in their digital products, mobile apps and video content. Increased advertiser demand for these platforms will help justify radio stations’ investment in digital, and also deliver fresh sources of ad revenue.
While the McKinsey report does not forecast broadcast radio advertising, it does note that other traditional media channels are experiencing declining shares of spending. Through 2019, McKinsey forecasts that global spend on print magazines and newspapers will be flat to slightly down.
Over the next five years, McKinsey expects compound losses of 1.6% for magazines and 0.1% for newspapers. Television media spending will remain healthy, with a compound annual growth rate of 5%. Other categories expected to show growth over the next five years include out-of-home, video games and cinema advertising.
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