Radio industry revenue in Canada 2007-2023

The radio industry in Canada generated 1.52 billion Canadian dollars in operating revenue in 2023, marking the lowest figure reported in over a decade. Compared with the previous year, operating revenue had dropped by approximately 17 thousand dollars.

Radio industry in Canada

Canada’s radio industry has experienced ongoing revenue declines for the past few years. In 2019, the revenue generated by commercial radio stations in Canada fell from 1.51 billion to 1.45 billion Canadian dollars, and similar downward trends were registered for employee numbers, advertising revenues, and many other industry metrics alike. Nevertheless, the number of radio stations in Canada has been growing steadily since 2015, with Bell Canada remaining the country’s most profitable broadcasting company based on market share.

Radio consumption trends

Radio remains one of the most popular offline news sources in Canada, with thousands of listeners tuning in to listen to radio programs, news broadcasts, and music on a daily basis. In 2020, the Toronto area was Canada’s leading market based on radio audience, with more than 5.86 million average daily listeners. During the first half of that year, ‘Blinding Lights’ by The Weeknd was the most played song on the radio in Canada, with more than 71 thousand plays.