Study: Radio's Economic Impact Continues to Grow
February 24, 2014

A new study by Woods & Poole Economics, with support from BIA/Kelsey, shows that local commercial broadcast television and radio contributes $1.24 trillion of Gross Domestic Product (GDP) and 2.65 million jobs to the American economy annually. The analysis also found that both television and local radio's economic impact will continue to grow in the coming years. Additionally, the report shows that direct employment from local commercial broadcasting, which includes jobs at television and radio stations as well as in advertising and programming, is estimated at more than 313,000 jobs, generating more than $55 billion annually in economic impact. Radio specifically contributes 125,000 jobs that result in almost $23 billion in GDP.

"Broadcast radio and television stations not only provide valuable local news, weather and public affairs programming to local communities, but also serve as a key driver for economic growth in America's hometowns," said NAB President and CEO Gordon Smith in regards to the study. "Whether it is by providing hundreds of thousands of jobs or offering an advertising platform for small businesses, local broadcasting has an unmatched legacy as an engine for economic development and growth."

The study also examined the cascading impact that employment at local television and radio stations has on local economies through the consumption of goods and services by industry employees. Local broadcasting has a ripple effect on other industries of over $138 billion in GDP and more than 856,000 jobs, the report concluded. Broadcasting's largest impact on the American economy stems from its role as a forum for advertising of goods and services that stimulates economic activity. The study estimated that local broadcast TV and radio advertising generated $1.05 trillion in GDP and supports 1.48 million jobs.

"The advertising provided by commercial local television and radio is unique in its comprehensive coverage and very low cost to consumers," reads the report. "Local television and radio advertising serves an important role for both consumers and businesses in providing economic information on product prices and features. This information increases market efficiencies and results in greater demand for well made and well priced goods and services. The additional demand contributes to aggregate economic growth."




 
Breaking News
iHeartMedia Revenue Up in Q4, Full-Year 2016
Study: Actual Ratings Panelists - We Want Personalities And Fun!
iHeartMedia Tampa Names Pete Norden SVP/Sales
The Syndicate Promotes from Within to Strengthen Marketing, Radio & Finance Departments
2017 NAB Crystal Radio Awards Finalists Announced
February 22, 2017
Entercom Reports Fourth Quarter and Annual Results
Study: “Local” Is Not Radio's Best Defense Against Pureplays
Ashley Z Takes On Nights At Q100/Atlanta Nights
Benztown Releases Third Annual Benztown 50 List of Top Voiceover Professionals in Radio
February 21, 2017
Study: Just Over Half Of At Work Listening Goes To Radio
iHeartMedia Names Blaine Jackson PD At WLUB/Augusta
CMG Atlanta Radio Names Jaleigh Long Director of Sales
In Brief - February 21, 2017
February 20, 2017
Study: Radio Dominates In Connected Cars
February 17, 2017
Study: Women to Radio: I Love You, But….
iHeartMedia Fort Myers Adds New Nighttime On-Air Hosts Lulu & Lala On Y100.1
Entercom Los Angeles Extends KSWD's "Uncle Joe'Benson
February 16, 2017
Study: Who Do Women Love Most – Radio or Pandora?
Prince Streaming Activity Explodes
Kathy Romano To Bring "Her Story" To WBEN/Phiadelphia
February 15, 2017
CBS Corp Revenue Up in 2016, Radio Now "Discontinued Operations"
Z90 "EPIC 48 2.0" Wraps, Includes Meeting Lady Gaga At The Big Game
MIW Radio Group: 2016 Gender Analysis
February 14, 2017
Music News
Bruno Mars to Receive 2017 iHeartRadio Innovator Award
David Bowie Honored at Brit Awards
Katy Perry Talks New Album Rollout
Quick Hits: Ed Sheeran, Future, Songwriters Hall Of Fame, Chris Brown, Young The Giant
Fifty Shades Darker Soundtrack Debuts Atop Billboard 200
James Brown's Drummer Clyde Stubblefield Dies
Quick Hits: Katy Perry, Ottawa Bluesfest Lineup
Quick Hits: The Roots Picnic, Ringo Starr & Paul McCartney, Lana Del Rey
Republic Records, ZXL Music & The Grimmie Family To Release New Christine Grimmie Music
Linkin Park Announce New Album, Release Single "Heavy"
Migos Joins With Motown & Capitol Records
Quick Hits: Beyonce, Adele, Metallica, Michael Jackson, OneRepublic
Katy Perry, Ed Sheeran, The Chainsmokers, Shawn Mendes, Noah Cyrus, Bruno Mars Set To Perform At The 2017 iHeartRadio Music Awards
Future Announces New Album Out Friday
Quick Hits: Pitbull, Lorde, G-Eazy, Camila Cabello
FMQB NOW

Question Of
The Week

Advertisement:
Search FMQB.com
Advertisements:
FMQB Member Login
Email:
Pass:

Save
Not a member yet?
Sign up Now!
Sign Up for Breaking News!
Enter FMQB E-Tracking!