The operating revenue for private FM radio broadcasters in Canada has shown a consistent decline from 2013 to 2023. Starting at 1.33 billion CAD in 2013, it fell to 0.877 billion CAD in 2023. Notable significant drops occurred particularly in 2016, 2020, and 2021, influenced likely by the broader economic environment and the shift in media consumption patterns.
The year-on-year variations emphasize this trajectory, with major declines observed between 2016 and 2021, peaking at -20.22% in 2020. This trend, however, slightly recovered in 2022 with a positive variance of 2.48% but again fell by -5.09% in 2023. Over the last five years (2019-2023), the compound annual growth rate (CAGR) averaged at -6.81%, indicating a substantial downward trend in the sector.
The forecast from 2024 to 2028 indicates a continued decline, projecting a decrease to 0.651 billion CAD by 2028. The forecasted five-year CAGR is -4.75%, reflecting ongoing challenges for the industry. Future trends to watch include the impact of digital platforms, changing listener habits, and technological advancements in broadcasting. Adapting to these changes will be crucial for the sustainability and growth of FM radio broadcasters in Canada.
