BIA 2022 U.S. Local Ad Forecast Sees Digital Growth, Recovery For Radio

2022 Report

BIA ADVISORY SERVICES' U.S. Local Advertising Forecast 2022 has some encouraging news about projected radio revenues for the coming year, with an increase to $12.7 billion ($11 billion for broadcast, $1.7 billion for digital) expected. By 2026, BIA predicts, digital radio revenues will be up to $2.4 billion, while broadcast radio, moving up and down with political spending, will be down to $11.7 billion by then.

“Radio isn’t faring as well as local broadcast TV, and it doesn’t get the same bump as TV in political years,” said SVP/Chief Economist MARK FRATRIK. “But it is getting close to its pre-pandemic levels as people continue to return to work commutes and traveling by car.”

Among other highlights of this year's study, BIA projects that the total U.S. ad market will reach $161.5 billion in 2022 (a 10% increase year-over-year), with mobile advertising spending as the #1 media advertising platform in 2022, passing direct mail. Traditional media will still lead digital media ($84.6 billion to $76.8 billion).

“For a long time, we’ve been talking about direct mail as the king of the share of wallet in local ad spending,” said Managing Dir. RICK DUCEY. “This coming year, for the first time, we pass the crown over to mobile, as its momentum drives it to be the biggest overall piece of the spending wallet -- and we expect that to continue in the foreseeable future.”

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