Radio industry turns up the dial on profits in 2025, but challenges remain

Despite competition from a steady increase in streaming audio, podcasts and other digital media options, the traditional over-the-air radio broadcasting industry has managed to survive—though not at the level it once did.

Despite a decline in staff and revenue over time for the radio broadcasting stations industry—which is comprised of private, public, and non-commercial (such as community or campus radio) stations—the industry as a whole turned a profit in 2025. Let’s tune into the numbers.

In 2025, the industry reported operating revenue of $1.5 billion and a net profit (after income taxes) of $28.8 million, following losses in four of the previous five years.

In 2025, there were 9,091 employees (weekly average), down 157 from 2024. Salaries and other staff benefits totalled $813.9 million, a decrease of $14.7 million, while total expenses reached $1.5 billion, down $28.2 million.

Private radio stations accounted for all of the year-over-year drop in staff (-209), while public and non-commercial stations increased their personnel by 51.

Private stations have grappled with declining advertising revenue for several years. Sales of airtime, which make up nearly all of private stations’ revenue, dropped from a high of $1.6 billion in 2013 to $1.0 billion in 2025 (-36.3%).

Private stations employed a weekly average of 6,174 staff in 2025—notably less than in 1976 (7,920), the year we started tracking these data. Staff numbers were in the five figures every year from 2007 (10,213) to 2013 (10,286)—including a record 10,521 in 2011—before declining steadily.

The $408.7 million spent on programming and production remained the highest share of expenditures by private stations in 2025. This represented the lowest amount spent in this category since 2006 ($394.6 million).

The $284.4 million spent on sales and promotion remained the second-highest share of expenditures in 2025 and in the previous 30 years among private stations.

National Radio Day is just around the corner, on August 20—perhaps you’ll catch the latest local news and weather on your drive to the cottage, or listen to a ballgame or in-depth interview during a slow afternoon during the back half of summer!

Check out Historica Canada’s article on the history of radio programming in Canada, which dates back to the 1920s.

And although it’s not traditional radio, our very own Eh Sayers podcast has some terrific statistical content for your listening pleasure.