Who says AM and FM radio is dying?
A just released research study from U.K.-based Research and Markets finds that the global market for Radio broadcasting will grow at a compound annual growth rate of 5.6% over the analysis period of 2020-2027.
Based on Research and Markets’ analysis, the global market for Radio Broadcasting was estimated at $122.4 billion in 2020. It is projected to reach a revised size of $178.7 billion by 2027.
With the Radio Broadcasting category are many subcategories Research and Markets examines, and this explains why “Radio Station” is one of the segments that gets its own unique analysis.
The “Radio Station” is projected to record 5.3% CAGR and reach 105 Billion by the end of the analysis period.
And, taking into account the ongoing post pandemic recovery, growth in the “Radio Network” segment has been readjusted to a revised 6% CAGR for the next seven-year period.
What is the U.S. market’s contribution to that $122.4 billion? At present, based on 2020 data, the stateside radio market is estimated at $36.1 billion. The People’s Republic of China is forecast to reach a projected market size of $31.5 Billion by 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.2% and 4.5%, respectively, over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.6% CAGR.
The research features 51 companies including Cumulus Media, iHeartMedia, Audacy (and Entercom data prior to the name change), Townsquare Media, Urban One and The Walt Disney Company.
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