The South African radio market continued its decline that started in 2014. According to a report from Pricewaterhouse Cooper, entitled “Entertainment and Media Outlook: 2016–2020,” following 11 percent and 15 percent growths in 2012 and 2013 respectively, the last two years have seen declines, with 2015 only seeing a 0.6 percent growth in total radio revenue. However, PwC indicates that the forecast shows a rebound over the next few years.
The total radio revenue came in at R4.3 billion (approximately US$303 million) for 2015, but by 2020 revenue is expected to grow to a total of R5.3 billion (about US$373 million), an overall growth of 4 percent.
As for other stats recorded by PwC, the daily figures of radio listening also saw just a small gain from November 2015 to March 2016, from three hours and 11 minutes a day to three hours and 15 minutes. In addition, radio is still listened to the most at home, but in-car listening saw the biggest growth between February 2014 and March 2016.
According to the report, South Africa is replacing its Radio Audience Measurement survey, switching from the existing survey provided by SAARF to one from Broadcast Research Council. The new survey source will look to add additional areas of insight.
The report also highlighted stable growth for Nigeria’s radio market and strong growth for Kenya’s radio market, which it says, is the largest advertising medium in that country.
To see the full report, click here.