TV set demand fuels global television broadcasting market surge

The global television broadcasting market exhibited robust growth, expanding from $271.12 billion in 2022 to $287.81 billion in 2023, marking a commendable Compound Annual Growth Rate (CAGR) of 6.2%. The market is anticipated to further elevate, reaching $353.18 billion by 2027, with a projected CAGR of 5.2%.

Key Driver: Rising Global Demand for Television Sets
The escalating global demand for television sets plays a pivotal role in propelling the television broadcasting market. Television remains a prominent medium for information, news, and entertainment transmission, and the surge in television set demand directly impacts the television broadcasting sector. A noteworthy example is the data from the BARC (Broadcast Audience Research Council) India, indicating a 6.9% increase in television ownership in Indian households, with 210 million households owning a television set in 2020, compared to 197 million in 2018. This surge in television set demand is expected to drive market growth significantly.

Major Players Shaping the Market Landscape
Key companies influencing the television broadcasting market include AT&T Inc., Charter Communications Inc., CBS Corporation, Twenty-First Century Fox Inc., Liberty Global, DISH Network Corporation, Comcast Corporation, Discovery Inc., Bertelsmann SE & Co KGaA, and Sony Corp.

Quality Content Investment Spurs Growth
Studios are increasingly allocating substantial budgets for TV shows to produce high-quality content. The availability of diverse revenue-generating platforms, such as video-on-demand services like Netflix and Hulu, mobile applications, and web portals, encourages studios to invest in top-tier content production. A notable example is Netflix’s £100 million investment in “The Crown” TV series. This trend of investing in quality content is expected to persist, driven by the demand for engaging programming across various platforms.

Regional Dynamics and Market Segmentation
North America emerged as the largest region in the television broadcasting market in 2022, while the Middle East is anticipated to be the fastest-growing region in the forecast period.

The global television broadcasting market is segmented –

By Type: Television Station, Television Network

By Broadcaster Type: Public, Commercial

By Revenue Source: Subscription-Based, Advertisement-Based

Television Broadcasting Global Market Report 2023 from TBRC covers the following information:

• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Television Broadcasting Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on television broadcasting market size, television broadcasting market drivers and trends, television broadcasting market major players, competitors’ revenues, television broadcasting market positioning, and television broadcasting market growth across geographies. The television broadcasting market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential. EIN NEWS