Revised revenue forecast predicts 5.5% growth for radio in 2024
The latest AA/WARC expenditure report released today highlights positive revenue momentum for commercial radio.
It shows updated forecasts for 2024 now predicting an increase of 5.5% year-on-year, an upgrade of 3.2 percentage points since April’s forecast.
In line with Radiocentre’s own data, AA/WARC’s recorded media revenues for the first quarter of 2024 reveal that radio revenue rose by 7% compared to the same period last year.
Additionally, for 2025 the report reveals how radio is forecast also to surpass the previous revenue growth prediction by 2.1 percentage points – the highest upward revision of all display media – resulting in expected year-on-year growth of 3.7% for next year.
Commenting on the latest figures, Radiocentre’s CEO Matt Payton said: “We’re pleased to see such optimism for radio revenue following a positive start to 2024.
These upgraded forecasts reflect the record audiences posted by commercial radio in Q1 and are a clear indication of the potential for sustained growth in the years ahead. This is good news for broadcasters and advertisers alike.”