BIA: Radio down almost 25% last year.

According to the latest Investing in the Radio Market Report from BIA Advisory Services, radio advertising fell 23.6% in the year 2020. There was not a lot of good news last year, but let us say the least bad news was digital, where radio was able to hold its own, with a slight decline from a total of $1 billion in 2019 to $939 million in 2020. According to BIA Senior Vice Resident and Chief Economist Mark Fratrik, “Local radio stations have been feeling the impact of new competition for the past few years; unfortunately, the pandemic just exacerbated the problem and it will take some time to recover.”