Traditional Radio - Montenegro | Statista Market Forecast

In Montenegro, revenue in the Traditional Radio market market is projected to reach US$4.92m in 2024.
Revenue is anticipated to show an annual growth rate (CAGR 2024-2029) of 0.72%, leading to a projected market volume of US$5.10m by 2029.
The number of Radio Users in Montenegro is expected to amount to 337.5k users by 2029.
User penetration in the country will be 53.9% in 2024 and is predicted to rise to 54.2% by 2029.
The average revenue per user (ARPU) in Montenegro is expected to amount to US$14.58.
In global comparison, the majority of revenue will be generated the United States, which is projected to reach US$12.48bn in 2024.
In Montenegro, traditional radio continues to play a vital role in local communities, fostering cultural identity amidst growing digital media competition.

Definition:

Traditional radio refers to the broadcasting of audio content via radio frequency waves to reach listeners, typically through AM and FM stations. It encompasses the transmission of music, news, talk shows, and other programming to a wide audience, often in real-time. Traditional radio remains a popular medium for entertainment, information, and communication, offering diverse content tailored to different demographics and interests.

Structure:

The Traditional Radio market comprises revenue generated from advertising aired on AM and FM stations, serving as a vital platform for businesses to reach audiences through audio commercials and sponsorships. Additionally, Public Radio Licence Fees contribute to the market, supporting the operations of non-commercial radio stations that provide educational, cultural, and community-focused programming.

Additional Information:

The market comprises revenues, ad spendings, users, average revenue per user, and penetration rates. Revenues are generated through purchases. Market numbers for Traditional Radio Advertising can also be found in the Audio Advertising market. Key players in the market are companies, such as iHeartMedia, Audacy Inc., and Cumulus Media Inc.

Non-digital radio advertising revenues such as broadcasting on the program service of a terrestrial radio station or network
Radio listeners who listen to non-digital radio broadcasts such as AM and FM Radio
Public radio licence fees such as BBC License in the UK and the Rundfunkbeitrag in Germany

Radio advertising revenue generated through online radio channels and/or online radio broadcasts such as pre- and in-Stream Audio Ads that appear in music and podcast streaming services
Public license fees collected in the form of a tax such as income tax in the Nordic countries

Data coverage:

The data encompasses B2C enterprises. Figures are based on the Music, Radio & Podcasts market, which comprises all revenues generated by traditional and digital radio advertising, consumer purchases of live music event tickets, all sales of tangible audio recording formats, paid digital downloads of professionally produced single tracks / compilations, ad-supported services, and subscription-based, on-demand streaming services. All monetary figures refer to consumer spending on digital goods or subscriptions in the respective market. This spending factors in discounts, margins, and taxes.

Modeling approach / market size:

The market size is determined through a bottom-up approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as various macroeconomic indicators, historical developments, current trends, and reported performance indicators of key market players. In particular, we consider average prices and annual purchase frequencies.

Forecasts:

We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP per capita, consumer spending per capita, and 4G coverage.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Consumer Insights data is reweighted for representativeness.

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.