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
Rodney on the Roq Ending After Over 4 Decades
iHeartMedia Names Kix Layton SVP/Programming For Greenville
PK's Throwback 105.5 Brings Old Skool Hip Hop And R&B To South Florida
iHeartMedia St. Louis Announces The Debut Of The New Majic 103.7
May 26, 2017
CBS Radio Promotes Shelly Easton and Bobby Smith in its Philly Cluster
iHeartMedia Names Brian Hall SVP of Programming for Ashville
Albie Dee Promoted To OM For Adams Radio Group, Salisbury/Ocean City, MD
May 24, 2017
RCA Records Promotes Joe Daddio To VP/Pop Promotion
iHeartMedia Names Rob Whiteside Digital PD For Virginia/Carolina Region
WBEN/Phiadelphia's Matt Cord & Kristen Herrman To Host National Dog Show Charity Walk
iHeartMedia Hartford Names Kelsey Maxon Digital PD
INSIGHTS: What Radio Can Learn from the TV Upfronts
Cumulus Media Adds Jay Philpott To Nights At KQRS/Minneapolis
Margaret Ann Ronayne NYC Memorial Service on June 8th
May 23, 2017
Beasley Media Group Unveils New Format Captains
iHeartMedia Austin Debuts New Spanish Top 40 Station TU 103.1
CBS Radio Officially Names John Farneda MD At WXRT/Chicago
In Brief - May 23, 2017
May 22, 2017
CBS Corporation Extends Chairman/President/CEO Les Moonves
KDMX (102.9 NOW)/Dallas Adds Kannon In Afternoon Drive
Entercom-Charlotte Signs Contract Extension with Matt & Ramona Show
May 19, 2017
Cumulus Media Oxnard/Ventura Names Matthew "Doughboy" Florence PD For KVYB
Westwood One Presents Backstage at the BBMAs
May 18, 2017
iHeartMedia St. Louis Names Maurice DeVoe PD For KMJM (100.3 The Beat)
Music News
Ariana Grande Releases Statement on Manchester Attack
Quick Hits: Guns N' Roses, Lana Del Rey, Nicki Minaj, Gorillaz, High & Low Festival
Fergie Signs Worldwide Partnership With BMG
Quick Hits: Ariana Grande, Leslie Jones, Jon Bon Jovi
22 Dead in Explosion at Manchester Ariana Grande Concert
Quick Hits: Iggy Azalea, Newport Folk Festival
It's a Sign of the Times: Harry Styles Debuts at #1
Drake Dominates Billboard Music Awards
Chris Cornell's Wife Issues Statement on His Death
Rocker Chris Cornell Dead at 52
The Entertainment World Remembers Chris Cornell
FMQB Photo Pass: Metallica
Katy Perry Announced as First Judge for American Idol Reboot
Katy Perry Announces New Album Witness, North American Tour
Rapper Logic Debuts Atop Billboard 200
FMQB NOW

Nicki Farag,
SVP of Promotion,
Def Jam Recordings

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!