When all is said and done and many of radio’s C-Suiters drink their champagne at midnight on Dec. 31, they may be celebrating, among other things, radio’s 3% share of all national advertiser spending in 2016.
That’s the forecast from media ecologist and MyersBizNet Chairman Jack Myers, who notes that radio’s growth story is that of the tortoise, rather than the hare. With radio’s share of total national advertising at 2.9% in the political year of 2012, Myers’ 2020 forecast is for further growth — albeit slow.
Myers’ forecast includes radio’s digital revenue, incorporating dollars seen on platforms such as iHeartRadio.
Is that a healthy scenario for radio?
Meanwhile, overall radio dollars are set to increase after a flat year. But, political ad spending is the driver.
Has the industry taken the proper steps to go beyond relying on Election Day dollars?
RBR + TVBR OBSERVATION (full text below, for subscribers): Based on Jack Myers’ radio revenue forecast, the radio industry is nearly ready for its close-up from CNBC and The Wall Street Journal, so long as the journalists on the story listen to LL Cool J and “don’t call it a comeback.” Radio’s health is certainly a story, but one that has been clouded by the “Dynamic Debt Bomb Duo”: iHeartMedia and Cumulus Media.