"Radio's Enduring Appeal in the Evolving Media Landscape"
Despite the decline of other legacy media, radio has shown surprising resilience with a stable listenership over the past decade, only experiencing a 10 percentage point drop compared to pay TV's 20 percentage point fall. Radio's success is attributed to its accessibility, local engagement, and interactive nature, including contests and community trust in hosts. Major radio companies like iHeartMedia have embraced digital formats such as podcasts, which complement traditional broadcasting. However, the industry faces advertising challenges post-Covid-19, with iHeartMedia's broadcast advertising revenue expected to decline. Nonetheless, the company's overall revenue, including digital, remains strong, suggesting a potential future where digital growth may offset declines in traditional radio.