Radio Broadcasting Global Market Report 2021: COVID 19 Impact and Recovery to 2030

·2-min read

Major companies in the radio broadcasting market include iHeartMedia; Cumulus Media; Walt Disney and Sirius XM Radio Inc. The global radio broadcasting market is expected to grow from $100 billion in 2020 to $113.

New York, Jan. 28, 2021 (GLOBE NEWSWIRE) -- announces the release of the report "Radio Broadcasting Global Market Report 2021: COVID 19 Impact and Recovery to 2030" -
59 billion in 2021 at a compound annual growth rate (CAGR) of 13.6%. 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 $137.72 billion in 2025 at a CAGR of 5%.

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. The radio broadcasting market is segmented into radio station and radio network.

Western Europe was the largest region in the global radio broadcasting market, accounting for 50% of the market in 2020. North America was the second largest region accounting for 28% of the global radio broadcasting market. Africa was the smallest region in the global radio broadcasting market.

Internet radio services are becoming popular as they provide better sound quality, music search tool and offer genre specific channels to listeners online. Internet radio, also known as web-radio technology or webcasting, uses the internet as a medium of distribution for broadcasting instead of traditional radio waves, that are limited by power of station’s transmitter and available broadcast options. Internet radio provides access to radio stations and live events from across the world, which is not possible through traditional radio broadcasting. Major companies providing internet radio are Pandora Media Inc, Spotify, Tune-In and Slacker.

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