The NAB has distributed a communiqué touting how “free, local broadcast television and radio stations are more than trusted sources of news, emergency updates and community connection.”
For the over-the-air media industry’s voice in Washington, radio and TV stations licensed by the FCC “are a vital infrastructure supporting every corner of American life.”
Citing a newly released 72-page study conducted by Woods & Poole Economics, with support from BIA Advisory Services, local broadcasting fuels $1.19 trillion in Gross Domestic Product (GDP) and supports 2.46 million jobs nationwide.
“At a time when Americans face rising costs and fragmented access to information, broadcasting remains uniquely accessible — available to every household over the air, without subscription fees or broadband requirements,” the NAB said.
For NAB President/CEO Curtis LeGeyt, “No other industry gives more to Americans for free,” taking a not-so-veiled swipe at the “Big Tech” companies that have lured advertisers and consumers thanks to strong investment in quality scripted content and live sports.
What streaming media hasn’t done? From a lack of localism to an absence of information-based programming, over-the-air stations remain vital to bringing all across the U.S. more than entertainment.
“Local stations provide trusted journalism, life-saving emergency alerts and the sports and entertainment that bring our communities together,” LeGeyt said. “This report reinforces that broadcasters are not only essential to our democracy and daily lives, but to the strength of our economy, as well.”
The detailed study illustrates how local stations serve their communities while powering economic growth, noting how local broadcasters employ “nearly 311,000 Americans directly” — even as the NAB seeks increased industry consolidation, which could result in a loss of newsroom jobs through combination of resources and redundancy elimination.
The Woods & Pole study also notes that over-the-air broadcasting’s economic ripple effect extends “deep into other sectors” — from construction to retail — adding another $134 billion in GDP and supporting nearly 776,000 additional jobs.
As such, local broadcast media remains “a powerful advertising platform for Main Street.”
Says the NAB, citing the Woods & Pole report, “With unmatched reach into every home and demographic, advertising on local broadcast television and radio generates more than $997 billion in GDP and sustains over 1.37 million jobs. Local businesses rely on this trusted platform to reach customers, grow their operations and fuel local economies.”
For LeGeyt, the data show why broadcasting “is more than a business model; it is a civic model. This industry stands alone in its mission to inform, protect and uplift every community in America, regardless of ZIP code or income level.”
Download the entire study by clicking here.
