Internet Radio Broadcasting in the US - Industry Market Research Report

Internet Radio Broadcasting in the US - Industry Market Research Report
Internet Radio Broadcasting in the US

The Internet Radio Broadcasting industry has seen robust growth since 2018, fueled by higher usage of smart speakers and web-enabled mobile devices. The industry's main Revenue comes from two sources: online advertising revenue from existing over-the-air radio stations and recommendation-based streaming platforms like Pandora. The industry doesn't include on-demand services like Spotify that let users select their music. These platforms have become major competitors over the past five years. However, the audience for online radio has grown, attracting more advertisement money. As a result, Revenue for internet radio broadcasters is expected to grow at an annualized CAGR of 5.3% to $5.0 billion in 2023, with a 0.7% increase in revenue when profit is set to reach 15.6%. Remarkably, the COVID-19 pandemic's negative economic impact didn't affect the industry due to an increase in online radio subscriptions from people staying at home.

Industry operators provide online streaming media distribution, including music and other audio programming. This industry only includes operators that control music recommendation and noninteractive internet radio platforms and generate revenue through subscription and advertising. This industry does not include subscription-based, on-demand online music streaming services.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.