Major players in the radio station market are Entercom Communications, Cumulus Media, CBS, iHeartMedia, Beasley Broadcast Group, Cox Radio, Townsquare Media, SFX Broadcasting, Bell Media, and Emmis Communications.
New York, March 08, 2022 (GLOBE NEWSWIRE) — Reportlinker.com Announces Release of “Radio Station Global Market Report 2022” – https://www.reportlinker.com/p06243821/?utm_source=GNW
The global radio station market is expected to grow from $69.64 billion in 2021 to $72.73 billion in 2022 at a compound annual growth rate (CAGR) of 4.4%. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which had previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities that resulted in operational challenges. The market is expected to reach $81.93 billion in 2026 at a CAGR of 3.0%.
The radio station market consists of the sale of radio broadcasting services and radio broadcasting related products. Radio broadcast services are usually radio waves or audio signals that are transmitted from servers to wider audiences all over the world.
Radio waves can be transmitted as AM (amplitude modulation) or FM (frequency modulation) and analog/digital technology is used to broadcast the programs over a radio network.
The main types of radio stations are broadcast radio, satellite radio, online or mobile radio. Radio broadcasting refers to the use of radio waves to send signals to large groups of people who are listening.
The different applications include advertising, public royalty, subscription and are used by several sectors such as entertainment, communications, commerce.
Western Europe was the largest region in the radio station market in 2021. Eastern Europe is expected to be the fastest growing region during the forecast period.
Regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The growth of event notices in broadcasting is driving the market for radio stations. Radio is one of the oldest media which is very useful for notices and cheaper than TV.
Radio is a very powerful and cost-effective means of influence to reach many audiences. Many businesses still use radio advertising as a marketing strategy.
Companies typically pay broadcasters to promote their products or services, such as television commercials.
Radio station advertising segment is one of the fastest growing segment of broadcasting as radio is the main source of all demographic information and also entertainment. Rural markets are more responsible for the growth of radio advertising as radio acts as a powerful advertising medium for rural markets.
Radio spectrum regulations are hampering the radio market. Radio spectrum is a radio frequency used to transmit radio waves from transmitters to the user within the coverage area of the radio station.
For each radio station, certain frequencies are allocated to transmit radio waves. The Office of Engineering and Technology (OET) department of the Federal Communications Commission (FCC) manages the frequencies assigned by the FCC to radio stations.
Currently, in the United States, the frequency range of 9 kHz and 275 GHz is allocated to radio stations to transmit radio waves and audio signals. These radio frequencies are designated for terrestrial/space radiocommunication services and radio astronomy services under specified conditions cited by the FCC.
There are federal rules and regulations on each broadcasting company, one cannot use more than the allocated frequency range to cover the largest area. If broadcast services need to cover a wider area, they have to apply to the FCC for the new radio station, which makes it all the more difficult for a radio station to broadcast in a wider bandwidth, thus limiting the market.
Organized and personalized music on the radio is the latest trend in the radio market. An organized and personalized music option helps the listeners to choose the different personalized radio stations.
Radio companies and online audio streaming companies are updating their apps to improve the listening experience by adding personalized radio channels. For example, Spotify, one of the largest online audio streaming companies, has added an artist radio feature that helps audiences showcase personalized radio stations.
Custom radio stations can be covered with endless tracks from different artists. Personalized and curated music options have helped radio companies continuously engage audiences by recommending personalized content and many companies have also seen this strategy as a competitive advantage.
In July 2019, Apollo Global Management, a US-based investment management firm, acquired Cox Media Group for $500 million. This acquisition helps Apollo Global Management maintain the successful operating structure of Cox Media Group’s Television.
Cox Radio is a United States-based broadcasting company.
The countries covered in the Radio Stations market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the United Kingdom and the United States.
Read the full report: https://www.reportlinker.com/p06243821/?utm_source=GNW
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