Julia Stoll
Research expert covering TV and video media
U.S. Radio Industry - statistics & facts
Back in 1979, The Buggles coined the iconic phrase “Video Killed the Radio Star”, foreseeing a gloomy future for this once powerful medium. Yet almost half a century later, the radio industry is still standing, despite the need to compete for the attention of the audience with different types of media. In the United States, radios can still rely on a wide audience, and reach 80 percent of U.S. Americans on a weekly basis. However, forecasts see a decline of revenue for the industry, while other types of media, including other types of audio formats, are gaining in popularity.
The radio industry in the United States today can still rely on a considerable attraction among audiences across the country. The upcoming years will, however, be crucial for radio companies to expand their digital potential, if they wish to assert their position in the media industry. Other competitive media formats, such as podcasts and music streaming, or even video streaming, all enjoy increasing popularity with consumers in the United States.
Online radio becomes more important in a competitive audio industry
Radio remains a popular medium in the United States. Listening to the radio, whether over the air or via streaming, accounts for over two thirds of the population’s audio time, and radio listeners have more than 15 thousand radio stations to choose from. Among them, iHeartRadio is by a significant margin the most popular online radio company in the country, boasting an average active sessions figure of nearly 400 thousand. In fact, the transformation from traditional radio formats to online radio has become increasingly important for the industry, according to the latest figures. The share of online radio listeners has gradually been growing and surpassing 70 percent in recent years.Online radio possibly softens the blow
Forecasts from 2024 predicted that the radio industry’s revenues would decline slightly by 2029. Whereas the industry’s advertising revenue has also been falling in past years, the share of digital radio in these revenues has constantly been rising. With the ongoing competition within the audio market coming from music streaming and podcasts, advertisers will likely seek to explore these other audio formats, which could then turn these forecasts into reality.The radio industry in the United States today can still rely on a considerable attraction among audiences across the country. The upcoming years will, however, be crucial for radio companies to expand their digital potential, if they wish to assert their position in the media industry. Other competitive media formats, such as podcasts and music streaming, or even video streaming, all enjoy increasing popularity with consumers in the United States.
