According to Borrell Associates, radio’s largest operators have been witnessing a significant shift in revenue sources. As digital platforms continue to grow, the question arises: Which companies are leading the way in digital revenue?
Here are the key findings from Borrell’s 2024 Annual Benchmarking Report released this week.
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The report evaluates the digital revenue contributions of publicly traded US and Canadian media companies:
Entravision: Currently, Entravision leads the pack with an impressive 84.3% of its total revenue stemming from digital channels. However, this status is under threat due to the withdrawal of Meta from a major revenue deal, which could significantly impact Entravision’s digital earnings.
Townsquare Media: Townsquare Media secures the second position among radio contenders. Digital formats accounted for 52.3% of its total 2023 revenue.
Salem Media Group: Salem Media Group finishes third, with digital contributing 42.3% of its revenue. Note that this data may have changed in the last quarter of the year, as data from its radio segment was only released through the third quarter of 2023.
iHeartMedia: iHeartMedia rounds out the top five, with digital making up 30.5% of its revenue in 2023. This figure surpasses that of its competitors Urban One, Audacy, Cumulus Media, Beasley Media Group, and Saga Communications, which have digital revenue percentages under 10%.
While newspapers lead the way with a whopping 45.5% digital share, radio continues to outperform television in this arena.
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