Global Radio Broadcasting market drivers, trends and restraints for 2022-2031
As per The Business Research Company’s “Radio Broadcasting Global Market Report 2022”, The global radio broadcasting market size increased from $125.39 billion in 2021 to $133.35 billion in 2022 at a compound annual growth rate (CAGR) of 6.30%. 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, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The radio broadcasting market is expected to grow to $144.97 billion in 2026 at a CAGR of 2.10%.
Key Trends In The Radio Broadcasting Market
There are several radio broadcasting market trends, such as Internet radio, also known as web-radio technology or webcasting, which uses the internet as a medium of distribution for broadcasting instead of traditional radio waves, which are limited by the power of the station’s transmitter and available broadcast options. Internet radio provides access to radio stations and live events from across the world, which is not possible through traditional radio broadcasting.
Overview Of The Radio Broadcasting Market
The radio broadcasting market analysis consists of revenues generated from sales of radio programs and air time to advertisers, and from donations and subsidies, earned by entities (organizations, sole traders, and partnerships) that operate broadcast studios and facilities for over-the-air or satellite delivery of radio programs, which may include entertainment, news, talk shows, business data, or religious services.