A study by the Radio Advertising Bureau, Borrell Associates, and Marketron reveals radio’s digital revenue surge, hitting $1.9 billion last year, a 6.8% increase. Since 2020, the industry’s Compound Annual Growth Rate stands at 6.4%. In 2023, digital sales accounted for 21% of total ad revenue, ranging from $82,835 in small markets to $1.2 million in larger ones. Radio snatched “obtainable digital revenue” from outside media competitors. Forecasts suggest breaking the $2 billion mark in 2024, with one-fifth of radio revenue from digital. 70% of ad buyers plan new purchases, mostly digital. A webinar on February 21 will delve into these findings.