Categories: IT & Communication Technology

TV And Radio Broadcasting Market Forecast 2024-2033: Growth Rate, Drivers, And Trends|Comcast Corporation, AT&T Inc., The Walt Disney Company, Charter Communications Inc., NBCUniversal Media LLC, Discovery Inc.

The TV And Radio Broadcasting Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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https://www.thebusinessresearchcompany.com/report/tv-and-radio-broadcasting-global-market-report

According to The Business Research Company’s TV And Radio Broadcasting Global Market Report 2024, The tv and radio broadcasting market size has grown strongly in recent years. It will grow from $439.41 billion in 2023 to $466.83 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to digital transformation, consumer behavior, globalization, economic factors, competition and market consolidation.

The tv and radio broadcasting market size is expected to see strong growth in the next few years. It will grow to $583.86 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to 5g technology adoption, subscription models, emergence of new content formats, environmental sustainability, political and societal influences. Major trends in the forecast period include data analytics and personalization, digital transformation, technological advancements, advertising evolution, sustainability and green broadcasting.

Virtual reality (VR) is increasingly being adopted by the TV and radio broadcasting industry to create a potential impact on audiences. Live events such as sports and music are expected to boost the demand for VR adoption during the forecast period, by helping audiences to connect with major events through a dynamic environment. For example, NextVR, a virtual reality platform for delivering live content, streamed Daytona 500 and a democratic debate. It also partnered with an events company Live Nation to broadcast live music to music fans worldwide. The rise in demand for VR content is expected to drive the market going forward.

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The tv and radio broadcasting market covered in this report is segmented –

1) By Type: Radio Broadcasting, Television Broadcasting
2) By Broadcaster Type: Public, Commercial
3) By Application: Residential, Government, Airports, Hospitals, Institutes, Other Applications

Subsegments Covered: Radio Station, Radio Network, Television Station, Television Network

TV and radio broadcasting companies are deploying technologies to allow users to access their content on mobiles and website portals. Access to various platforms and devices has increased over demand for TV and radio broadcasting services. For instance, mobile OTT (over-the-top) service Go90 introduced by Verizon and BingeOn by Comcast Watchable and T Mobile are new services aimed mainly at a youth audience., enabling users to watch content on mobile applications, web portals, and digital boxes.

The tv and radio broadcasting market report table of contents includes: