Radio one of the winners in 2024

14.01.2025 - RADIONYTT.NO - Kyrre Dahl

Advertising revenue increased by 1.7 percent last year, according to figures from the Norwegian Media Agencies Association. Radio was one of the winners in the advertising market in 2024.

Photo: Pixabay

The Media Barometer 2024 shows an increase of NOK 170 million compared to 2023, i.e. an increase of 1.7 percent. This comes after a strong third quarter. The Media Barometer shows media turnover via Norwegian media agencies.

– In total, media turnover in the Media Barometer ended at NOK 9.9 billion in 2024. We have had an increase in 2024 compared to 2023, and we are registering positive signals in the market, says Managing Director Camilla Gåre at the Norwegian Media Agency Association. The result is about as expected, a slight increase.

The small growth can be attributed to the second half of the year, despite the fact that there has been no major redemption in the fourth quarter. In other words, most of the growth can be attributed to the third quarter. This indicates that the market has been in a downturn for a longer period, which has turned out to be a little longer than initially expected, says Investment Director Jonas Buskop at Omnicom Media Group.

Buskop notes in a press release that some media groups have had extra strong growth in the year that has now passed.

– Of the larger media types, outdoor and radio are the biggest winners in percentage terms with 11% and 8% growth respectively. However, the largest volume growth is found in the overall category of digital media, which is growing by more than 4% and close to NOK 200 million. Within digital, digital video and social media are providing growth, with contributions of 20% and 8% respectively, says Jonas Buskop, who is optimistic about the future.

– Despite lower growth than expected in the fourth quarter, the media market looks brighter in 2025. This is related to a more positive view of the consumer economy in the coming year. We are already seeing signs of more activity within categories that are more capital-intensive, says Jonas Buskop.

More radio stories from Norway: In English

Translated by AI

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