Kagan Predicts Total Broadcast Ad Revenue at $36.4 Billion for 2022

The U.S. broadcasting industry is expected to reach $36.47 billion in total advertising revenue in 2022, said a report from S&P Global Market Intelligence’s Kagan Tuesday. That’s an increase of 12.9% from $32.31 billion in 2021, returning to pre-COVID-19 pandemic levels, S&P Global said in a release. Spending in the 2022 midterm election is expected to reach $3.49 billion, an increase of 15% from the 2018 midterm elections, the report said. “Radio's lower ad cost, local audience and relatively high return on investment compared to other media will keep it relevant, although digital investments point to future growth opportunities with the spot ad market for radio expected to decline over the forecast period,” said the report.