The Future of Radio (Part III): Pandemic ad famine accelerated structural shifts

Some changes look to be permanent By Steve Faguy LAST YEAR WAS A bad one for radio. According to data compiled by Standard Media Index, which tracks national advertising sales in Canada, ad revenue in the industry dropped 35% in 2020, almost three times how much it dropped in 2019 overall. In the second quarter, as lockdowns hammered the economy and closed businesses and events, it was down a staggering 76% from the previous year (see above, and below). In August, a report released by the Canadian Association of Broadcasters warned 50 radio stations could close in four to six...