Insights into Radio's Digital Revenue Growth

During a recent RAB-hosted live presentation, findings from the RAB-Borrell 13th annual benchmarking report "Digital Revenue Grows 10%,"" highlighted the changes in radio and digital sales revenue. While radio's core business of broadcast remains relatively steady, digital sales continues to grow and are forecast to reach $2.3 billion in 2025. Insights into the report, shared by Gordon Borrell, CEO, Borrell Associates, can provide a plan for ways that the radio industry can increase growth. Where the opportunities are: "If you're doing some strategic planning and you want to sell stuff, you're going to find many more prospects in social media, search marketing, banner ads, event sponsorships and streaming video to some extent,"" commented Borrell. "What you also need to know is that a lot of those nonradio customers, they are going to want to talk about maybe CCTV or social media management, things like that. If you create that relationship and sell them on some of those products that you have, like search engine marketing or search engine optimization, there's your opportunity to convert them into a believer of radio."