Some radio companies have been quicker than others to adapt to the changing digital landscape. According to a new report from Borrell Associates, companies like Townsquare Media, Salem Media Group, and iHeartMedia are the radio industry leaders.
In a report detailing digital revenue contributions of media companies, the Borrell report shows that Entravision — a company featuring mostly Spanish language radio and TV stations — derives 84.3% of its revenue from digital.
Meanwhile, Townsquare Media sees 52.3% of its revenue from the digital realm. In 2023, the company reported $454.2 million in total revenue. While the company saw a 1.9% decrease in total revenue, but saw a 7% increase in digital.
Salem Media Group, through the third quarter, saw 42.3% of its revenue come through digital endeavors like the Salem Podcast Network, Salem News Channel, and traditional digital advertising. In 2023, Salem’s digital revenue grew 4.1%.
iHeartMedia (30.5), UrbanOne (28.4%), Auduacy (24.7%), Cumulus (19.8%), Beasley Media Group (18.5%), and Saga (9.3%) rounded out the list of radio companies that saw significant portions of their revenue come from digital.
According to the Borrell Associates report, 20.9% of radio revenue was from digital aspects, on average. That pales in comparison to newspaper companies (45.5%) and Yellow Pages (58.4%), while TV lagged behind at 16.9%.
