In 2022, radio advertising revenue in Canada amounted to approximately 1.1 billion U.S. dollars. This figure marked a slight increase compared to the previous year.
Radio industry in Canada
Canada’s radio industry has experienced ongoing revenue declines for over a decade. In 2022, operating revenues from Canada’s radio sector stood at 1.53 billion Canadian dollars. 10 years ago, this respective figure was over two billion. That said, radio ranked among Canada's primary offline news sources used by Anglophone news consumers as of early 2023.
Is radio advertising still effective?
In 2023, global radio advertising spending was projected to reach over 29.6 billion U.S. dollars. This figure was approximately 15 percent less than the pre-pandemic 35 billion dollars in 2019. Yet, radio remains a popular news and entertainment source for millions of listeners. While many people only consume radio content in the car, it makes for an impressive audience base. That said, more listeners are now switching to online radio stations. As marketers are aware of the ongoing changes in consumer behavior, the future of radio (advertising) will likely be digital.
Radio advertising revenue in Canada from 2003 to 2022
(in billion Canadian dollars)
Characteristic
Revenue in billion Canadian dollars
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Figures have been rounded.
Adapted from Statistics Canada, statcan.gc.ca, 2003 to 2022. This does not constitute an endorsement by Statistics Canada of this product.
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StatCan. (May 24, 2023). Radio advertising revenue in Canada from 2003 to 2022 (in billion Canadian dollars) [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/283002/canada-radio-advertising-revenue/
StatCan. "Radio advertising revenue in Canada from 2003 to 2022 (in billion Canadian dollars)." Chart. May 24, 2023. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/283002/canada-radio-advertising-revenue/
StatCan. (2023). Radio advertising revenue in Canada from 2003 to 2022 (in billion Canadian dollars). Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/283002/canada-radio-advertising-revenue/
StatCan. "Radio Advertising Revenue in Canada from 2003 to 2022 (in Billion Canadian Dollars)." Statista, Statista Inc., 24 May 2023, https://www.statista.com/statistics/283002/canada-radio-advertising-revenue/
StatCan, Radio advertising revenue in Canada from 2003 to 2022 (in billion Canadian dollars) Statista, https://www.statista.com/statistics/283002/canada-radio-advertising-revenue/ (last visited July 22, 2024)
Radio advertising revenue in Canada from 2003 to 2022 (in billion Canadian dollars) [Graph], StatCan, May 24, 2023. [Online]. Available: https://www.statista.com/statistics/283002/canada-radio-advertising-revenue/