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 observed in the historical period can be ascribed to factors such as digital transformation, shifts in consumer behavior, globalization, economic influences, as well as 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 anticipated growth in the forecast period can be linked to the adoption of 5G technology, the prevalence of subscription models, the emergence of new content formats, considerations for environmental sustainability, and the impact of political and societal factors. Notable trends expected in the forecast period encompass data analytics and personalization, digital transformation, advancements in technology, evolution in advertising, and a focus on sustainability and environmentally friendly broadcasting.

Virtual reality (VR) is increasingly finding its way into the TV and radio broadcasting industry, creating a potential impact on audiences. The demand for VR adoption is expected to rise during the forecast period, particularly driven by live events such as sports and music, providing audiences with an immersive experience to connect with major happenings. For instance, NextVR, a virtual reality platform for delivering live content, streamed events such as the Daytona 500 and a democratic debate. Collaborating with Live Nation, an events company, it also broadcasted live music events globally. This surge in VR content demand is anticipated to propel the market forward.

The increasing trend toward digitalization is poised to drive the growth of the TV and radio broadcasting market in the coming years. Digitalization involves transforming business models by leveraging digital technology to create new revenue streams and value-creating opportunities. The integration of digital tools and processes into various aspects of operations, including management, communication, production, and customer service, has reshaped the television and radio broadcasting industries, making them more efficient, cost-effective, and accessible to a broader audience. For instance, data from the Digitalization In Europe 2021-2022, Evidence from the EIB Investment Survey revealed that 46% of EU enterprises took steps to become more digital, with 58% of US firms doing the same. Additionally, 66% of US enterprises adopted advanced digital technology, surpassing the European Union's adoption rate of 61%. Hence, the growing digitalization trend is a driving force behind the TV and radio broadcasting market.

The COVID-19 pandemic has acted as a significant restraint on certain segments of the TV and radio broadcasting markets in 2020, with disruptions caused by lockdowns imposed globally. As a contagious disease, COVID-19 led to lockdowns and restrictions on business activities, impacting economic activity and hindering the movement of goods and services. Despite this, many media markets were either unaffected or benefited, transmitting content remotely through digital channels. The expectation is that the TV and radio broadcasting market will recover across the forecast period, considering the pandemic's nature as a 'black swan' event, unrelated to inherent weaknesses in the market or the global economy.

TV and radio broadcasting companies are integrating technologies to enable users to access their content through mobiles and website portals. The demand for TV and radio broadcasting services has surged with increased access across various platforms and devices. For example, mobile OTT (over-the-top) services such as Verizon's Go90 and Comcast's Watchable, along with T-Mobile's BingeOn, are new offerings primarily targeting a youthful audience. These services empower users to view content on mobile applications, web portals, and digital boxes.

Major companies in the TV and radio broadcasting market are prioritizing strategic collaborations, as seen with Paramount Global (ViacomCBS) partnering with CJ ENM Co. Ltd. to better cater to their existing consumers. The collaboration between Paramount Global and CJ ENM Co. Ltd. extends premium entertainment to fans globally through a comprehensive global arrangement, encompassing company productions for original television shows and films, content licensing, and marketing across major streaming platforms of ViacomCBS and CJ ENM. For instance, in December 2021, Paramount Global (ViacomCBS) announced a strategic partnership with CJ ENM Co., Ltd. This collaboration leverages their global reach, production expertise, renowned intellectual property, and successful legacies to unlock significant synergies for both organizations. They also co-develop and co-finance films for theatrical and streaming distribution, releasing one theatrical film annually across multiple markets. CJ ENM Co., Ltd. is a South Korea-based lifestyle and entertainment company.


Major companies operating in the tv and radio broadcasting market report are Comcast Corporation, AT&T Inc., The Walt Disney Company, Charter Communications Inc., NBCUniversal Media LLC, Discovery Inc., Netflix, CBS Corporation, ViacomCBS Inc., DISH Network Corporation, Twenty-First Century Fox Inc., Sky Group (Sky Limited), Netease Inc., 21st Century Fox, Vivendi SE, Liberty Media Corporation, Liberty Global PLC, Sirius XM Holdings Inc., Nexstar Media Group Inc., FUJI MEDIA HOLDINGS Inc., Sinclair Broadcast Group Inc., Mediaset S.p.A., E.W. Scripps Company, The Cable News Network, Nine Entertainment Co., Entercom Communications Corporation, World Wrestling Entertainment Inc., Cumulus Media Inc., Saga Communications Inc., LIVE NATION WORLDWIDE INC., TEGNA Inc.

Western Europe was the largest region in the tv and radio broadcasting market in 2023. Eastern Europe is expected to be the fastest growing region in the forecast period. The regions covered in the tv and radio broadcasting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the tv and radio broadcasting market report are Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa.

The primary categories of broadcasting encompass radio broadcasting and television broadcasting. Television broadcasting encompasses the transmission of radio signals from transmitters to antenna receivers, producing video images on TVs that viewers can tune in to. OTA TV stations offer numerous independent channels with diverse frequencies. Broadcasters can be categorized as public or commercial, and these broadcasting services find applications in various settings such as residential areas, government institutions, airports, hospitals, educational institutes, and others.

The TV and radio broadcasting market research report is one of a series of new reports that provides TV and radio broadcasting market statistics, including TV and radio broadcasting industry global market size, regional shares, competitors with a TV and radio broadcasting market share, detailed TV and radio broadcasting market segments, market trends and opportunities, and any further data you may need to thrive in the TV and radio broadcasting industry. This TV and radio broadcasting market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The TV and radio broadcasting market includes revenues earned by entities by operating broadcast studios and facilities for over-the-air or satellite delivery of radio and television programs. They often produce or purchase programs, which may include entertainment, news, talk shows, business data, or religious services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.


The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.