Radio’s digital revenue grew 6.8% in 2023, reaching a healthy $1.9 billion, just shy of the $2.1 billion that was forecast one year ago. Although most stations missed their double-digit digital growth targets last year, the outlook is better for this year. The annual digital revenue benchmarking report by the Radio Advertising Bureau and Borrell Associates calls for 11% growth, pushing digital revenue to $2.1 billion in 2024.
“Station managers are generally in sync with that target but are signaling that they need something to continue driving healthy growth,” according to the report, released Wednesday. Nearly 6 in 10 (58%) station managers surveyed by Borrell Associates now say that “new blood in the sales department should be the priority, instead of more digital training,” the report says. “Most believe the best way to do that would be to hire digital-only sales reps. Some are doing just that.”
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