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Radio Market by Platform and Geography - Forecast and Analysis 2021-2025

  • Published: Mar 2021
  • Pages: 120
  • SKU: IRTNTR70474
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The radio market share is expected to increase by USD 6.57 million from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 3%.

This radio market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers radio market segmentation by geography (North America, Europe, APAC, South America, and MEA) and platform (broadcast radio, online radio, and satellite radio). The radio market report also offers information on several market vendors, including Australian Broadcasting Corp., Bauer Media Group Inc., BCE Inc., Cox Enterprises Inc., Cumulus Media Inc. , Entercom Communications Corp. , Global Radio Services Ltd., RTL Group SA, Sirius XM Holdings Inc., and The Walt Disney Co. among others.

What will the Radio Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Radio Market Size for the Forecast Period and Other Important Statistics

 

Radio Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The access to latest music and live updates is notably driving the radio market growth, although factors such as availability of music streaming services may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the radio industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Radio Market Driver

One of the key factors driving growth in the radio market is access to the latest music and live updates. The cost of subscription to most of the radio channels is negligible. The only cost incurred with the radio is the cost of the device, which must be tuned into. However, with the growing use of smartphones all over the world, the additional cost for a separate device is being eliminated. The music industry is another growing industry, which is relevant to all age groups. As radio has a provision of offering free latest music to the users along with live updates, the radio market is expected to grow. Live updates that are broadcast through these radio channels include live news regarding sports, politics, regional news, local news, the launch of a new product, traffic updates, weather updates, offers, and others. As the above updates are made available to the users without any extra charges, more users are inclined to use radios, thereby driving the overall radio.

Key Radio Market Trend

Online radio services is another factor supporting the radio market share growth. Online radio streaming is one of the popular platforms for playing radio. Most of the vendors in the current market offer their services over the Internet. There are a few radio channels that have merged with online streaming portals and other radio channels, which serve both online radios and streamed music services using the same platform. Pandora and Apple Music are perfect examples of vendors offering both of the above-mentioned services. This gives the users a flexible option in terms of music content. The increasing Internet penetration and availability of mobile Internet will drive the demand for Internet radio. This trend is expected to create a positive impact on the global radio market.

Key Radio Market Challenge

The availability of music streaming services will be a major challenge for the radio market during the forecast period. Music streaming services such as Amazon Music, Google Play Music, and Deezer are some of the major competitors in the radio industry. Many of the listeners are streaming music online instead of tuning into the radio due to the growing popularity and competitive pricing by the streaming service providers. Most of the music streaming applications are available online free of cost, where listeners can play their favorite tracks. Moreover, with the growing mobile Internet penetration, listeners can access music on the go and download the music on their mobile devices. However, as many listeners still prefer the radio to explore the latest music, music streaming providers like Apple, Pandora, and gaana.com are also providing radio services along with music streaming. This integration is expected to overcome the challenge in the near future.

This radio market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global radio market as a part of the global broadcasting market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the radio market during the forecast period.

Who are the Major Radio Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Australian Broadcasting Corp.
  • Bauer Media Group Inc.
  • BCE Inc.
  • Cox Enterprises Inc.
  • Cumulus Media Inc. 
  • Entercom Communications Corp. 
  • Global Radio Services Ltd.
  • RTL Group SA
  • Sirius XM Holdings Inc.
  • The Walt Disney Co.

 

This statistical study of the radio market encompasses successful business strategies deployed by the key vendors. The radio market is concentrated and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • Australian Broadcasting Corp. - The company operates in the global radio market via private and government broadcasting.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The radio market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Radio Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the radio market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the broadcasting market includes the following core components:

  • Content creation
  • Production
  • Post-production
  • Programming
  • Packaging
  • Transmission and delivery
  • Connected devices
  • End-user
  • Industry innovation

The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.

Which are the Key Regions for Radio Market?

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44% of the market’s growth will originate from North America during the forecast period. The US is the key market for radio in North America. Market growth in this region will be faster than the growth of the market in the European and South American regions.

The inclination of the listeners toward radio news channels will facilitate the radio market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

 In the US, the radio market witnessed a sudden growth in the first half of 2020 due to COVID-19-related lockdowns. The lockdowns led to an increase in the demand for home entertainment in the region. Investments in expansion by some music streaming vendors in the region supported the growth of digital radio services. As people stayed indoors for a significant period in 2020, consumption of radio content increased, which positively affected the growth of the market in focus in 2020. The market in focus is expected to grow even during the forecast period.

What are the Revenue-generating Geography Segments in the Radio Market?

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The radio market share growth by the broadcast radio segment will be significant during the forecast period. A major driver for the broadcast radio segment of the market is the fact that it does not require any special device to tune in to. Due to the latest technological advances, most smartphone manufacturers have integrated the broadcast radio chip in the smartphone, which enables the streaming of radio on the smartphone. Online music streaming can be a threat to the broadcast radio segment. However, due to the increasing number of service providers offering bundled services, the revenue generated by the broadcast radio segment is expected to rise during the forecast

This report provides an accurate prediction of the contribution of all the segments to the growth of the radio market size and actionable market insights on post COVID-19 impact on each segment.

 

Radio Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 3%

Market growth 2021-2025

$ 6.57 million

Market structure

Concentrated

YoY growth (%)

2.49

Regional analysis

North America, Europe, APAC, South America, and MEA

Performing market contribution

North America at 44%

Key consumer countries

US, UK, Germany, China, and Japan

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Australian Broadcasting Corp., Bauer Media Group Inc., BCE Inc., Cox Enterprises Inc., Cumulus Media Inc. , Entercom Communications Corp. , Global Radio Services Ltd., RTL Group SA, Sirius XM Holdings Inc., and The Walt Disney Co.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Radio Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive radio market growth during the next five years
  • Precise estimation of the radio market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the radio industry across North America, Europe, APAC, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of radio market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Market characteristics
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Five forces summary
    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Platform

    • Market segments
    • Comparison by Platform
    • Broadcast radio - Market size and forecast 2020-2025
    • Online radio - Market size and forecast 2020-2025
    • Satellite radio - Market size and forecast 2020-2025
    • Market opportunity by Platform

    Customer landscape

    • Customer landscape

    Geographic Landscape

    • Geographic segmentation
    • Geographic comparison
    • North America - Market size and forecast 2020-2025
    • Europe - Market size and forecast 2020-2025
    • APAC - Market size and forecast 2020-2025
    • South America - Market size and forecast 2020-2025
    • MEA - Market size and forecast 2020-2025
    • Key leading countries
    • Market opportunity by geography
    • Market drivers
    • Market challenges
    • Market trends

    Vendor Landscape

    • Competitive scenario
    • Vendor landscape
    • Landscape disruption
    • Industry risks

    Vendor Analysis

    • Vendors covered
    • Market positioning of vendors
    • Australian Broadcasting Corp.
    • Bauer Media Group Inc.
    • BCE Inc.
    • Cox Enterprises Inc.
    • Cumulus Media Inc. 
    • Entercom Communications Corp. 
    • Global Radio Services Ltd.
    • RTL Group SA
    • Sirius XM Holdings Inc.
    • The Walt Disney Co.

    Appendix

    • Scope of the report
    • Currency conversion rates for US$
    • Research methodology
    • List of abbreviations

    Research Framework

    Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

    TechnavioINFORMATION SOURCES

    Primary sources

    • Manufacturers and suppliers
    • Channel partners
    • Industry experts
    • Strategic decision makers

    Secondary sources

    • Industry journals and periodicals
    • Government data
    • Financial reports of key industry players
    • Historical data
    • Press releases
    Technavio

    TechnavioDATA ANALYSIS

    Data Synthesis

    • Collation of data
    • Estimation of key figures
    • Analysis of derived insights

    Data Validation

    • Triangulation with data models
    • Reference against proprietary databases
    • Corroboration with industry experts
    Technavio

    TechnavioREPORT WRITING

    Qualitative

    • Market drivers
    • Market challenges
    • Market trends
    • Five forces analysis

    Quantitative

    • Market size and forecast
    • Market segmentation
    • Geographical insights
    • Competitive landscape
    Interested in this report?
    Get your FREE sample now!
    The radio market growth will increase by $6.57 million during 2020-2025.
    The radio market is expected to grow at a CAGR of 2.65% during 2020-2025.
    Technavio has segmented the radio market by platform (Broadcast radio, Online radio, and Satellite radio) and geographic (North America, Europe, APAC, South America, and MEA).
    Australian Broadcasting Corp., Bauer Media Group Inc., BCE Inc., Cox Enterprises Inc., Cumulus Media Inc. , Entercom Communications Corp. , Global Radio Services Ltd., RTL Group SA, Sirius XM Holdings Inc., The Walt Disney Co. are a few of the key vendors in the radio market.
    North America will register the highest growth rate of 43.90% among the other regions. Therefore, the radio market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
    • US
    • UK
    • Germany
    • China
    • Japan
    The key factors driving the radio market growth are:
    • Access to latest music and live updates
    The radio market vendors should focus on grabbing business opportunities from the broadcast radio segment as it accounted for the largest market share in the base year.
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