Radio Broadcasting & Programming Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 2/12/2024
SIC Codes: 4832
NAICS Codes: 51611
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Radio Broadcasting & Programming Industry Profile

Companies in this industry operate radio broadcast studios and transmit music, talk shows, news, and other audio entertainment formats to the public. Major US-based companies include iHeartMedia, Cumulus Media, and SiriusXM; leading companies based outside the US include the BBC (the UK), NRJ Group (France), and PRISA (Spain).

The global radio broadcasting market is expected to grow from about $150 billion in 2023 to about $160 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%, according to the Business Research Company. By 2028, the market is expected to reach about $200 billion at a CAGR of 5.5%. The US has the highest number of radio stations, according to Statista.

The US radio broadcasting and programming industry includes about 5,500 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $21 billion.

The industry includes radio networks and stations, but not companies that broadcast only on the internet or that primarily produce taped radio programs.


Business advertising and consumer demographics drive demand. The profitability of individual companies depends on advertisement volume, programming mix, and efficient operations. Large companies have economies of scale in sales operations and in contracting for programming. Small companies can compete effectively with special programming or broadcasters who attract large audiences. The US industry is highly concentrated: the 50 largest companies account for more than 80% of revenue.

Radio broadcast companies compete ...

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