IAB Says Radio Ad Spend Could Be Down 31 Percent Y2Y

Ad spending in the United States will decline 8% this year, according to a survey of ad buyers released Wednesday by the Interactive Advertising Bureau. Digital ad spend will grow 6% despite the dip, while traditional media is set to plummet 30% YoY as digital grows its market share at traditional media’s expense, MediaPost reports.

Linear TV ad spend, for example, will shrink 24%, while CTV grows 19%. Print investment will decline 33%, while social media and paid search will rise 25% and 26% respectively. And display will increase 15%, while direct mail decreases 17%. Out-of-home, meanwhile, will get hammered on both the traditional side (46% decline) and the digital side (43% decline). 

And terrestrial radio ad spend will drop 31%, while digital audio declines 5% and podcasts drop 8%