Radio Broadcasting Market Characteristics
The radio broadcasting market consists of revenues generated from sales of radio programs and air time to advertisers, and from donations and subsidies, earned by entities (organizations, sole traders and partnerships) that operate broadcast studios and facilities for over-the-air or satellite delivery of radio programs, which may include entertainment, news, talk shows, business data, or religious services.
Competitive Landscape of the Radio Broadcasting Market
Major players in the global radio broadcasting market include iHeartMedia, Cumulus Media, Walt Disney, Sirius XM Radio Inc
Radio Broadcasting Market Size
The radio broadcasting market size is expected to increase by 2021, significantly growing at a stable CAGR of around 5% during the forecast period. The growth in the radio broadcasting market is due to factors such as rise in population and changing trends towards radio.
However, the market for radio broadcasting market is expected to face certain restraints from several factors such as growing awareness for online entertainement devices and reducing popularity.
Radio Broadcasting Market Segmentation
The global radio broadcasting market is further segmented based on type and geography.
By Type - The radio broadcasting market is segmented into radio station, radio network among these segments, the radio station accounts for the largest share in the global radio broadcasting market.
By Geography - The global radio broadcasting market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America was the largest region in the global Radio Broadcasting market.
Trends in the Radio Broadcasting Market
Radio stations have been digitalized and are moving towards an online channel to avoid crackly signals and disturbances from ruining a show. Major players in the market have discarded towers and transmitters and are sending content over the internet. Digitization has also brought down costs as less manpower is required to operate.
Potential Opportunities in the Radio Broadcasting Market
With the increase in car users around globe, the number of radio listeners also increased hence, the scope and potential for the global radio broadcasting market market is expected to significantly rise in the forecast period.