Radio broadcasting market comprises of revenues generated from the sales of radio programs & air time to advertisers and from donations & subsidies, earned by entities (sole traders & partnerships and organizations) that operate broadcast studios and services for over-the-air or satellite delivery of radio programs. Radio broadcasting is a process of transmission of radio programs by radio waves or audio signals and envisioned to reach the broad audience. The radio broadcasting market is bifurcated as radio station and radio network. To broadcast the common radio format, all radio stations are connected to the radio network. Broadcasting of the radio network is projected to have a massive requirement because it is a network system that allocates the programming to multiple stations directly for the purpose of encompassing whole coverage beyond the limits of a single broadcast signal. The radio broadcasts also include news, talk shows, entertainment, and other programs that are anticipated to boost the growth of the radio broadcast market.
As per analysis, “Radio Broadcasting Global Market Report 2020-30: Covid 19 Impact and Recovery” the key companies operating in the global radio broadcasting market include iHeart Media; Walt Disney; Cumulus Media; Sirius XM Radio Inc. and among others.
Based on type, radio broadcasting market is segmented as radio network and radio station. Radio network segment dominates the global market as it is a network system that distributes the programming to multiple stations for the purpose of extending entire coverage beyond the limits of a single broadcast signal. Based on broadcaster type, market is segmented as commercial and public broadcaster. Based on radio type, market is segmented as FM, AM, HD radio and satellite radio. In addition, based on frequency bands, market is segmented as low-frequency bands, very low frequency bands and medium frequency bands.
Growth in advertising at events, followed by rise in technology advancements and growth of evolving market are some major factors, which are responsible for growth of the radio broadcasting market. Apart from this, capital-intensive industries along with steep license fees that challenge the broadcasters from moving into the retro music, are few of the elements restraining the growth of the radio broadcasting market. Moreover, increase in number of radio listeners due to rise in number of car users is a key opportunity for market.
Based on geography, the Western-Europe holds major share in global radio broadcasting market owing to growth in technological innovation and high consumer base across the region. The North-America is the second major market for radio broadcasting due to rise in demand for communication services and increase in investments by leading players in the region. Additionally, the Asia-Pacific region is expected to witness higher growth rate because of growth in economy, rise in per capita income and growth in urbanization over the forecast period. It is expected that future of the global radio broadcasting market will be bright as a result of growth in advanced technologies for instance Internet of Things (IoT) and machine to machine communication during the forecast period.
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Ankur Gupta, Head Marketing & Communications