The Radio Broadcasting Global Market Report 2023 by The Business Research Company, provides radio broadcasting market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Radio Broadcasting Global Market Report 2023, the market grew from $136.29 billion in 2022 to $143.29 billion in 2023 at a compound annual growth rate (CAGR) of 5.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The radio broadcasting market is expected to grow to $170.46 billion in 2027 at a CAGR of 4.4%.
The increase in number of radio listeners drives the growth of radio broadcasting market. Radio is the interactive way to listen to music and it provides information about various news and events happening around the world.
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The radio broadcasting market is segmented:
1) Radio Broadcasting Market By Type: AM, FM, Satellite Radio, HD Radio
2) Radio Broadcasting Market By Broadcaster Type: Public, Commercial
3) Radio Broadcasting Market By Frequency Bands: Very-Low Frequency, Low Frequency, Medium Frequency
The burgeoning popularity of internet radio services can be attributed to their ability to deliver superior sound quality, advanced music search functionalities, and genre-specific channels, catering to the evolving preferences of online listeners. Distinguished by the nomenclature of web-radio technology or webcasting, internet radio leverages the internet as a distribution medium, diverging from the constraints posed by traditional radio waves. Unlike the limited reach and broadcast options associated with conventional radio transmissions, internet radio facilitates global access to diverse radio stations and live events. This expansive reach transcends geographical boundaries, a feat unattainable through traditional radio broadcasting methods. Key industry players shaping the landscape of internet radio include Pandora Media Inc., Spotify, Tune-In, and Slacker.
The radio broadcasting market report table of contents includes:
1. Executive Summary
2. Report Structure
3. Radio Broadcasting Market Characteristics
4. Radio Broadcasting Market Product Analysis
5. Radio Broadcasting Market Supply Chain
.......
21. Key Mergers And Acquisitions In The Radio Broadcasting Market
22. Market Background: TV And Radio Broadcasting Market
23. Recommendations
24. Appendix
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