Radio growth is expected to rise significantly above average, growing by 18.6% in 2021 (boosted by a 22.5% rise in digital revenues) according to Radiocentre. With over 84% (45M people) of the UK population now listening to radio, it comes as no surprise.
Both digital and terrestrial radio is proving to be a source of escapism and joy for consumers, as well as a trusted point of information for millions of listeners.
Showcasing proven results, existing advertisers have retained spend. New advertisers are now more able than ever to reach large, high-value audiences over this staple channel.
Radio is on a roll, and the medium continues to build momentum. After the record revenues for commercial radio and highest ever audiences announced this year, the latest figures are further proof that the audio revolution is in full swing – the largest annual growth on record, overtaking 1988’s growth of 15.9%.
Radio is a trusted medium for all brands and it has also become a way to extend the life of a project, from an album, to a promotional product advert. The constantly evolving medium helps extend the life of the streaming with now an enhanced efficiency in reach.
Advertisers are recognising the true scale of the impact radio has for their brands and investing accordingly, highlighting how the boom for the radio industry shows no signs of slowing.
Riding the radio wave
Practice makes perfect, and engaging with activity on Radio refers specifically to two things:
- Terrestrial radio: AM/FM stations on a local or national broadcast.
- Internet radio: Digital stations without physical limitations
While the latter may seem more appealing to younger people – the millennial generation has grown up accustomed to boundless accessibility.
With outstanding results in reach, brands are advised to invest in radio to portray their message out in one of the most effective ways to currently do so – through terrestrial and internet radio formats.
All Response Media viewpoint
Whilst these results look positive, it’s important to remember that last year, was a little odd. There have been some interesting things happening, such as the sharp increase of the 60+ adults shopping online, and the acceleration of the decline in print circulation.
The question is whether these habits will stick.
Behaviour of human beings can be quite elastic, i.e., we snap back into place once the factors forcing the change have been removed.
The length and depth of the change though, is unlike anything we’ve experienced and it’s likely that some of these trends will stay. Online shopping for example, is likely to continue to profit from this change, as people who were previously nervous about it, have been forced into it, and found that mostly, it’s actually super handy.
Media is a tricky one though. As lives get back to normal, it’s likely that things like the radio will diminish a little as people spend less time working from home, and more time in the office.
Radio remains a valuable addition to media plans where increasing reach, extending the life of a TV campaign, or regional sales boosts are the goal. To discuss your radio options, please contact your ARM team who’ll be happy to help.