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
SiriusXM Reports Third Quarter 2016 Results
WWKX (HOT 106)/Providence Launches HOT Morning Show
In Brief - October 27, 2016
October 26, 2016
Beasley Media Group Names Justin Chase EVP/Programming
Beasley Media Group Appoints Buzz Knight To VP/Programming
Pandora Reports Q3 2016 Financial Results
BIA/Kelsey Forecasts Overall U.S. Local Advertising Revenues
Nielsen Reports 3rd Quarter Results
October 25, 2016
John Garabedian Leaving Open House Party
The 4th Annual CBS RADIO “We Can Survive” Concert
Brooke & Jubal Joins WSHE/Chicago For Mornings
KWEE/Portland Adds Tino Cochino To Nights
October 24, 2016
CBS Radio Names Brian McHale SVP/Information Technology
Nielsen Announces Launch of National Television Out-Of-Home Measurement Service
The Atlantic Records New York Team Celebrates Charli XCX
October 20, 2016
CBS Radio Signs Michael Martin To Multi-Year Contract Renewal
SportsRadio 94WIP/Philly Adds Joe Decamra & Jon Ritchie To Middays
October 19, 2016
Frankie C Extends Agreement With KZHT/Salt Lake City
Voncile Anderson Named Beasley Director/NTR Sales In Tampa Bay
In Brief - October 19, 2016
October 18, 2016
Rob Stringer Promoted To CEO Of Sony Music Entertainment
iHeartMedia St. Louis Announces The Debut Of The New Alt 104.9
Entercom Agrees To Acquire Four Radio Stations In Charlotte From Beasley Broadcast Group
Ebro Returns To Portland
Music News
Billboard Women in Music Event to Honor Shania Twain, Halsey
Quick Hits: Twenty One Pilots, Green Day, Justin Bieber, Tom Petty & The Heartbreakers, Mariah Carey, Neil Young
Prince’s Paisley Park Approved to Open Permanently for Public Tours
Quick Hits: Jason Derulo, Alessia Cara, Hailee Steinfeld, Lady Gaga, Tove Lo
Kings of Leon Earn First #1 Album
Quick Hits: The Chainsmokers, Drake, Prince, Sting, Charlie Puth, The Decemberists, Dead or Alive
Quick Hits: Radiohead, Frank Ocean, A$AP Ferg
"Crash" Into Against Me!
Maroon 5 Closes The Top 40 and Hot AC Radio Panels Upon Impact
Jordan Fisher Will Make His Broadway Debut In Hamilton On November 22
Quick Hits: Kanye West, Eminem, Bruno Mars, Gwen Stefani
Pearl Jam, 2Pac & Depeche Mode Lead 2017 Rock Hall Nominees
Green Day Tops Billboard 200 For Their Third Time
Quick Hits: Liam Payne, Rock & Roll Hall Of Fame, Mother Love Bone
Quick Hits: Kings Of Leon, Elton John, Roger Waters

Jon Zellner
EVP/Programming Operations

          Question Of
           The Week

FMQB Member Login

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