Radio Station Global Market Sees Growth Rate Of 4% Through 2022
17 Mar, 2022
The global radio station market size is expected to grow from $69.64 billion in 2021 to $72.73 billion in 2022 at a compound annual growth rate (CAGR) of 4.4%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $81.93 billion in 2026 at a CAGR of 3.0%.
What is the Global Radio Station Market?
The radio station market consists of sales of radio broadcasting services and the products related to radio broadcasting. Radio broadcasting services are typically radio waves or audio signals that are transmitted from servers to the larger audiences all over the world. Radio waves can be transmitted in the form of AM (Amplitude Modulation) or FM (Frequency Modulation) and analog/digital technology is used for broadcasting the programs over a radio network.
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What drives the Global Radio Station Market?
The growth in the event advertisements in radio broadcasting is driving the radio station market. Radio is one of the oldest media which is very helpful for advertisements and is cheaper than television. Radio is a very strong and cost-effective influential medium for reaching many audiences. Many companies are still using radio advertising as their marketing strategy. Companies usually pay radio broadcasters to promote their products or services like television ads. There are various types of radio advertisements such as live-read, Jingle ad, testimonial, personal ad, sponsored to reach out to a vast audience. The advertisement segment in a radio stations is one of the fastest-growing segments in radio broadcasting because the radio is the main source of all demographic news and also for entertainment. Rural markets are more responsible for the growth of radio advertising because radio acts as a powerful medium of advertising for rural markets.
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Global Radio Station Market Segments
The global radio station market is segmented:
By Type: Broadcast Radio, Satellite Radio, Online/Mobile Radio
By Application: Advertising, Public License Fee, Subscription
By End Use: Entertainment, Communications, Commercial
By Geography: The regions covered in the radio station market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Radio Station Global Market Report 2022provides market size and growth forecasts for the global radio station market, global radio station market share, radio station market segments and geographies, radio station market competitive landscape including leading competitors’ revenues, profiles and market shares. The radio station market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Radio Station Industry Playersinclude Entercom Communications, Cumulus Media, CBS, iHeartMedia, Beasley Broadcast Group, Cox Radio, Townsquare Media, SFX Broadcasting, Bell Media, and Emmis Communications. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.