Commissioned by consulting giants PwC, the Media and Entertainment Outlook found that the total value of the radio segment sits at $1.4 billion, with the 10.6% decline being largely attributed to a loss in traditional radio advertising revenue. The report acknowledged that while terrestrial radio and digital audio broadcasting (DAB) is expected to make a recovery once audiences return to predictable daytime patterns, it is not anticipated the sector will return to 2019 levels within the next four years. PwC also noted that while metropolitan stations witnessed a decline in revenue, regional radio largely maintained its market share throughout 2020, with talkback radio also growing to dominate radio listenership once surveying resumed in September 2020.