Source: www.insideradio.com, December 2022
A top radio industry priority remains increasing the share of revenue attributed to digital assets. The Inside Radio Year-End 2022 Readers Poll shows progress is being made on that front. Nearly half (48%) of poll participants said at least 11% of their 2022 station/cluster revenue came from digital/interactive. Here’s how that broke down: 21% said 11-15% of revenue came from digital, 7% indicated 16-20% of billings were digital, 10% said 21-25% and 10% indicated digital made up 26% or more of their 2022 revenue.
But there remains a large proportion of radio broadcasters for whom digital accounts for 10% or less in revenue: 24% said it is 1-5% of station/cluster revenue and 23% indicated it was 6-10%. And 7% said they have no digital revenue at all.
For the vast majority of survey takers (65%), less than one-fourth of advertisers include digital as part of their radio ad buys. One in four said 25-49% of advertisers include digital in their buys. Roughly half say most of their station/cluster’s digital revenue comes from new clients while 39% said advertisers are shifting dollars from spot buys to digital.
Nearly three years after the World Health Organization declared COVID-19 a pandemic, just over half of Inside Radio readers (51%) say most or all of their employees have returned to the office/studio. But the pandemic’s impact on the workplace remains as nearly four in ten (38%) report their company has implemented a hybrid workplace model. Only 12% say most or all of their employees continue to work from home.
The informal Inside Radio Readers Poll was conducted online in mid-December with surveys completed by 502 respondents. Just over half (52%) operate in markets 1-99 and 48% in markets 100+.
