US Radio Broadcasting Market Research Report

 

When it comes to looking for a job in entertainment, it’s always a good idea to have a firm grasp on the history and current events of the industry – particularly in the realm of communications. Nearly everything is almost constantly in a state of change, and it can be dizzying to keep up with new media, best practices and FCC guidelines – but it’s well worth the effort.

There are a lot of good resources to stay up to date on what’s going on in the entertainment industry – news sites, social media and industry reports. IBIS World, a market research company, recently released a report on the state of the radio industry, covering everything from annual revenue and growth to number of employees and companies. We’ve broken down the information to give you a quick rundown on everything you need to know to knock your next radio (or communications) industry interview or networking conversation out of the park:

In 2012, the Radio Broadcasting Industry brought in an overall revenue of $17 billion

Market size: in 2012, there were 107,351 employees and 6,157 businesses in the Radio Broadcasting Industry

The largest companies included in the report are Sirius XM Radio Inc., CC Media Holdings Inc. and CBS Corporation

The annual growth rate from 2007-2012 was -3.7%; the negative growth is likely due to economic struggles and industry restructuring

The projected growth for 2012-2017 is expected to be positive, leaning on an economic recovery and technological advancements within the industry

Some of the biggest challenges facing businesses last year and in years prior have been the limited interaction with listeners and heavy reliance on advertising. In the age of the internet, radio stations are struggling to find that balance between offering quality programming and having a significant internet presence without spreading themselves too thin. In the future, radio executives will need to find a way to walk that line to maintain relevance in an increasingly digital world.

Could you see yourself as a visionary, helping the radio industry find new ways to thrive in the coming years? If you could picture working in radio, whether through music publishing jobs, music industry jobs in Chicago  or radio broadcasting jobs in LA, the industry needs you. Check out the several entertainment job listings on 4EntertainmentJobs.com now, and wow your next interviewer with your impressive industry knowledge. 

 

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