Global radio broadcasting market booming with growing audience

The global radio broadcasting market, meticulously segmented by type, broadcaster type, and frequency bands, has experienced harmonious growth dynamics. From $136.29 billion in 2022, the market crescendoed to $143.29 billion in 2023, achieving a commendable compound annual growth rate (CAGR) of 5.1%. Projections indicate a continued symphony, with the radio broadcasting market expected to reach $170.46 billion by 2027, growing at a CAGR of 4.4%.

Driving Forces: Surge in Radio Listenership
The surge in the number of radio listeners is a pivotal driver shaping the global radio broadcasting market. Radio serves as an interactive medium for music and provides essential information about news and events worldwide. In 2021, Nielsen Media Research reported that 88% of Americans, approximately 293 million individuals, listen to terrestrial (AM/FM) radio weekly. In India, All India Radio streams, the national public radio broadcaster, experienced a rise in listenership from 17 million in February 2022 to 19 million in March 2022. The substantial increase in radio listeners is expected to significantly contribute to the market’s growth.

Key Players in the Symphony of Sound
Major companies orchestrating the melody of the radio broadcasting market include Liberty Media Corporation, Sirius XM Holdings Inc., iHeartMedia Inc., The Walt Disney Company, Bouygues SA, Entercom Communications Corporation, Cumulus Media, Inc., FUJI MEDIA HOLDINGS Inc., Netease Inc., Nine Entertainment Co., and Holdings Limited. These key players contribute significantly to market dynamics, leveraging their influence in shaping the industry.

Regional Dynamics: Western Europe Takes the Lead
In 2022, Western Europe emerged as the largest region in the radio broadcasting market, fueled by a mature broadcasting landscape and high consumer engagement. Looking ahead, Eastern Europe is poised to be the fastest-growing region, driven by increasing urbanization and evolving consumer preferences. The comprehensive radio broadcasting market analysis encompasses regions such as Asia-Pacific, North America, South America, the Middle East, and Africa, providing detailed insights into regional dynamics, market trends, and growth opportunities.

Radio 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 Radio Broadcasting Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on radio broadcasting market size, radio broadcasting market drivers and trends, radio broadcasting market major players, competitors’ revenues, market positioning, and market growth across geographies. The radio 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. Kalkine Media