Audacy projects ambitious revenue growth in streaming and podcasting, including a paid subscription service

Radio giant Audacy, rocked by bankruptcy debt restructuring, is forging ahead with a five-point business projection. Looking at the company’s business plan filed with the SEC (HERE), we see five areas of focus:

  • Radio
  • Streaming
  • Podcasting
  • Digital Marketing Solutions
  • Other Revenue

That last one includes an eye-widening plan to build a “subscription audio streaming offering” with projected subscription revenue “over $20 million” by 2027. There’s no conceptual detail at this point, at least publicly. We imagine Audacy forging a path modeled on iHeartRadio All Access, which contains an on-demand music component.

Currently, the company offers Audacy: Radio & Sports Talk, a no-charge phone app supported by advertising.

Other Projections

Audacy presents positive projections for its existing streaming, podcasting, and digital marketing in a five-year view. (See below.) Podcasting revenue is forecast to experience 25% compound annual growth rate (CAGR) through 2027. Streaming is projected at 16% CAGR, and digital marketing solutions could grow in mid-teens.

The Radio Advertising Projection

Alongside the upward-moving numbers associated with digital and on-demand listening, Audacy projects a winnowing downward trend for spot-plus-network advertising. The numbers below are in billions of dollars, and show a bit of up and down during the overall trend. (Note the dramatic revenue injury brought by Covid.)


The business plan is tremendously informative in all areas of this complex company’s business. It’s HERE.

Brad Hill