PUBLISHER: The Business Research Company | PRODUCT CODE: 1435599
PUBLISHER: The Business Research Company | PRODUCT CODE: 1435599
Television broadcasting involves transmitting radio waves from transmitters to antenna receivers, generating visual images on TVs that viewers can tune into. Over-the-Air (OTA) TV stations provide a variety of independent channels with different frequencies. On the other hand, radio broadcasting is a one-way wireless communication method that utilizes radio waves to reach a broad audience.
The primary categories of broadcasting encompass radio broadcasting and television broadcasting. Television broadcasting encompasses the transmission of radio signals from transmitters to antenna receivers, producing video images on TVs that viewers can tune in to. OTA TV stations offer numerous independent channels with diverse frequencies. Broadcasters can be categorized as public or commercial, and these broadcasting services find applications in various settings such as residential areas, government institutions, airports, hospitals, educational institutes, and others.
The TV and radio broadcasting market research report is one of a series of new reports from The Business Research Company that provides TV and radio broadcasting market statistics, including TV and radio broadcasting industry global market size, regional shares, competitors with a TV and radio broadcasting market share, detailed TV and radio broadcasting market segments, market trends and opportunities, and any further data you may need to thrive in the TV and radio broadcasting industry. This TV and radio broadcasting market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The tv and radio broadcasting market size has grown strongly in recent years. It will grow from $439.41 billion in 2023 to $466.83 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth observed in the historical period can be ascribed to factors such as digital transformation, shifts in consumer behavior, globalization, economic influences, as well as competition and market consolidation.
The tv and radio broadcasting market size is expected to see strong growth in the next few years. It will grow to $583.86 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The anticipated growth in the forecast period can be linked to the adoption of 5G technology, the prevalence of subscription models, the emergence of new content formats, considerations for environmental sustainability, and the impact of political and societal factors. Notable trends expected in the forecast period encompass data analytics and personalization, digital transformation, advancements in technology, evolution in advertising, and a focus on sustainability and environmentally friendly broadcasting.
Virtual reality (VR) is increasingly finding its way into the TV and radio broadcasting industry, creating a potential impact on audiences. The demand for VR adoption is expected to rise during the forecast period, particularly driven by live events such as sports and music, providing audiences with an immersive experience to connect with major happenings. For instance, NextVR, a virtual reality platform for delivering live content, streamed events such as the Daytona 500 and a democratic debate. Collaborating with Live Nation, an events company, it also broadcasted live music events globally. This surge in VR content demand is anticipated to propel the market forward.
The increasing trend toward digitalization is poised to drive the growth of the TV and radio broadcasting market in the coming years. Digitalization involves transforming business models by leveraging digital technology to create new revenue streams and value-creating opportunities. The integration of digital tools and processes into various aspects of operations, including management, communication, production, and customer service, has reshaped the television and radio broadcasting industries, making them more efficient, cost-effective, and accessible to a broader audience. For instance, data from the Digitalization In Europe 2021-2022, Evidence from the EIB Investment Survey revealed that 46% of EU enterprises took steps to become more digital, with 58% of US firms doing the same. Additionally, 66% of US enterprises adopted advanced digital technology, surpassing the European Union's adoption rate of 61%. Hence, the growing digitalization trend is a driving force behind the TV and radio broadcasting market.
The COVID-19 pandemic has acted as a significant restraint on certain segments of the TV and radio broadcasting markets in 2020, with disruptions caused by lockdowns imposed globally. As a contagious disease, COVID-19 led to lockdowns and restrictions on business activities, impacting economic activity and hindering the movement of goods and services. Despite this, many media markets were either unaffected or benefited, transmitting content remotely through digital channels. The expectation is that the TV and radio broadcasting market will recover across the forecast period, considering the pandemic's nature as a 'black swan' event, unrelated to inherent weaknesses in the market or the global economy.
TV and radio broadcasting companies are integrating technologies to enable users to access their content through mobiles and website portals. The demand for TV and radio broadcasting services has surged with increased access across various platforms and devices. For example, mobile OTT (over-the-top) services such as Verizon's Go90 and Comcast's Watchable, along with T-Mobile's BingeOn, are new offerings primarily targeting a youthful audience. These services empower users to view content on mobile applications, web portals, and digital boxes.
Major companies in the TV and radio broadcasting market are prioritizing strategic collaborations, as seen with Paramount Global (ViacomCBS) partnering with CJ ENM Co. Ltd. to better cater to their existing consumers. The collaboration between Paramount Global and CJ ENM Co. Ltd. extends premium entertainment to fans globally through a comprehensive global arrangement, encompassing company productions for original television shows and films, content licensing, and marketing across major streaming platforms of ViacomCBS and CJ ENM. For instance, in December 2021, Paramount Global (ViacomCBS) announced a strategic partnership with CJ ENM Co., Ltd. This collaboration leverages their global reach, production expertise, renowned intellectual property, and successful legacies to unlock significant synergies for both organizations. They also co-develop and co-finance films for theatrical and streaming distribution, releasing one theatrical film annually across multiple markets. CJ ENM Co., Ltd. is a South Korea-based lifestyle and entertainment company.
Major companies operating in the tv and radio broadcasting market report are Comcast Corporation, AT&T Inc., The Walt Disney Company, Charter Communications Inc., NBCUniversal Media LLC, Discovery Inc., Netflix, CBS Corporation, ViacomCBS Inc., DISH Network Corporation, Twenty-First Century Fox Inc., Sky Group (Sky Limited), Netease Inc., 21st Century Fox, Vivendi SE, Liberty Media Corporation, Liberty Global PLC, Sirius XM Holdings Inc., Nexstar Media Group Inc., FUJI MEDIA HOLDINGS Inc., Sinclair Broadcast Group Inc., Mediaset S.p.A., E.W. Scripps Company, The Cable News Network, Nine Entertainment Co., Entercom Communications Corporation, World Wrestling Entertainment Inc., Cumulus Media Inc., Saga Communications Inc., LIVE NATION WORLDWIDE INC., TEGNA Inc.
Western Europe was the largest region in the tv and radio broadcasting market in 2023. Eastern Europe is expected to be the fastest growing region in the forecast period. The regions covered in the tv and radio broadcasting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the tv and radio broadcasting market report are Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa.
The TV and radio broadcasting market includes revenues earned by entities by operating broadcast studios and facilities for over-the-air or satellite delivery of radio and television programs. They often produce or purchase programs, which may include entertainment, news, talk shows, business data, or religious services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
TV And Radio Broadcasting Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on tv and radio broadcasting market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for tv and radio broadcasting ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The tv and radio broadcasting market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.