美国广播行业市场前景及投资研究报告-培训课件外文版2024.5

DIGITAL

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TRENDSRadiointheU.S.CHAPTER

01OverviewEstimatedrevenueofradiobroadcastersintheUnitedStatesfrom2005to2021(inbillionU.S.dollars)RevenueofU.S.radiobroadcasters2005-20212521.921.5321.1520.6320.6720.4119.3220151051918.6418.4518.3418.241817.4517.2716.9415.910200520062007200820092010201120122013201420152016201720182019202020214Description:AccordingtotheestimationofdataontheannualaggregaterevenueoftheAmericanradiobroadcastersfrom2005to2021,revenuehasbeenincreasingsteadily,withaslightdropbetween2019and2020.In2021,U.S.radiobroadcastingcompaniesgeneratedanestimatedtotalrevenueof21.9billionU.S.dollarscomparedto20.7billiondollarsinthepreviousyear.ReadmoreNote(s):UnitedStates;2005to2021;includesradionetworksandradiostationsthataretaxableemployerfirmsSource(s):USCensusBureauEstimatedrevenuegeneratedbyradiostationsintheUnitedStatesfrom2010to2021,bysource(inmillionU.S.dollars)RadiostationsrevenueintheU.S.2010-2021,bysourceNational/regional/localairtime0.62AllotheroperatingrevenuePublicandnon-commercialprogrammingservices0.6914121080.80.811.180.641.30.691.280.691.290.751.110.781.180.61.191.161.5710.6420121.080.921.820.791.52611.2610.810.8310.810.6610.5210.5610.6210.569.118.59420201020112013201420152016201720182019202020215Description:ConsideringtheestimatedrevenuegeneratedbyradiostationsintheUnitedStatesfrom2010to2021itcanbesaidthattheoverallrevenueisfairlystable,withtheexceptionof2020whenthecoronaviruspandemicaffectedtheindustry.In2021,radiostationsgenerated920millionU.S.dollarswithpublicandnon-commercialprogrammingservices.ReadmoreNote(s):UnitedStates;2010to2021Source(s):USCensusBureauRevenueoflocalpublicradiostationsintheUnitedStatesfrom2019to2021(inbillionU.S.dollars)LocalpublicradiostationrevenueintheU.S.2019-211412.811.7121089.76420201920202021*6Description:TherevenueoflocalpublicradiostationsintheUnitedStatesamountedtoover12.8billionU.S.dollarsin2019.In2020,thelocalradiostationrevenuedroppedslightlyto9.7billionU.S.dollarsduetothepandemicandthelossinadvertisingincome.However,revenuesareestimatedtorecoverquicklyin2021.ReadmoreNote(s):UnitedStates;2019to2020;*Forecast.ReadmoreSource(s):BIAAdvisoryServices;InsideRadioCHAPTER

02MarketleadersNumberofradiostationsownedbyiHeartMediaintheUnitedStatesfrom2014to2022NumberofradiostationsownedbyiHeartMediaintheU.S.2014-20221,00090080070060050040030020010008588618558568588638648498482014201520162017201820192020202120228Description:MassmediacompanyiHeartRadioowned858radiostationsintheU.S.in2020,upfrom856inthepreviousyear.Thisnumberincreasedfurtherin2022toatotalof864stations.Thecompanyservedaround160U.S.marketsin2022,including48ofthetop50marketsand86ofthetoponehundred.ReadmoreNote(s):UnitedStates;2014to2022Source(s):iHeartMediaRevenuegeneratedbyiHeartMedia,Inc.from2015to2022(inbillionU.S.dollars)iHeartMediarevenue2015-20224.53.914.03.683.613.573.593.563.443.53.02.52.01.51.00.50.02.95201520162017201820192020202120229Description:MassmediacompanyiHeartMediagenerated2.95billionU.S.dollarsinrevenuein2020,downfrom3.68billioninthepreviousyear.Thisnumberrecoveredtoapre-pandemiclevelof3.56billionU.S.dollarsin2021,furtherincreasingto3.92billionU.S.dollarsin2022.Overall,thecompany'srevenuepresentedagrowthbetween2017and2019,whichwaslargelyduetoincreasesindigitalandpodcasting.

ReadmoreNote(s):Worldwide;2015to2024Source(s):iHeartMediaLeadingradiostationsinNewYork,UnitedStates,inMay2022,byratingsMostpopularradiostationsinNewYork2022AverageQuarter-HourPersons(AQH)share0123456789WLTW-FM(AC)WAXQ-FM(classicrock)WHTZ-FM(CHR)8.46.45.65.55.5WBLS-FM(urbanAC)WCBS-FM(classichits)WNEW-FM(HotAC)4.64.6WKTU-FM(HotAC)WNYC-FM(news/talk)WSKQ-FM(spanishtropical)WABC-AM(news/talk)3.83.83.710Description:NewYorkCity`sleadingradiostationinMay2022wasWLTW-FM(AC),with8.4percentofradiolistenersintheNewYorkmetropolitanareatuningintotheurbanhitsstationforatleastfiveminutesineachquarterhourperiodinthatmonth.ThismetricisoftenreferredtoassimplyAverageQuarter-HourPersons(abbreviatedtoAQH).ReadmoreNote(s):UnitedStates;asofMay2022;6yearsandolder;MondaytoSunday,6amtomidnightSource(s):Nielsen;Varioussources(Radioonline)LeadingradiostationsinWashingtonD.C.,UnitedStates,inOctober2020,byratingsMostpopularradiostationsinWashingtonD.C.2020AverageQuarter-HourPersons(AQH)share4%

6%0%2%8%10%12%WTOP-FM(news)WHUR-FM(urbanAC)WMAL-FM(news/talk)WAMU-FM(news/talk)WASH-FM(AC)10.3%7.9%7.9%6.9%6.1%5.7%WMMJ-FM(urbanAC)WETA-FM(classical)WWDC-FM(alternative)WBIG-FM(classicrock)WIHT-FM(CHR)5%4.3%4.1%3.4%11Description:InOctober2020theleadingradiostationinWashingtonD.C.byratingwasWTOP-FM.Thestationhadaratingof10.3,meaningthat10.3percentofthoselisteningtotheradioinWashingtonD.C.listenedtoWAMU-FMforatleastfiveminutesineach15-minuteperiod.ReadmoreNote(s):UnitedStates;October2020;6yearsandolder;MondaytoSunday,6amtomidnightSource(s):Nielsen;TalkersLeadingradiostationsinChicago,UnitedStates,inOctober2020,byratingsMostpopularradiostationsinChicago2020AverageQuarter-HourPersons(AQH)share2%

3%

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5%0%WVAZ-FM(urbanAC)WBBM-AM(news)1%6%7%8%9%8.4%6.9%WDRV-FM(classicrock)WTMX-FM(hotAC)5.1%4.6%4.3%4.2%4%3.9%3.8%WLIT-FM(AC)WOJO-FM(regionalMexican)WLS-FM(classichits)WXRT-FM(tripleA)WBEZ-FM(news/talk)WSCR-AM(sports)3.2%12Description:Chicago`sleadingradiostationinOctober2020wasWVAZ-FM,with8.4percentofradiolistenersintheChicagometropolitanareatuningintothestationforatleastfiveminutesineachquarterhourperiod.ThismetricisoftenreferredtoassimplyAverageQuarter-HourPersons(abbreviatedtoAQH).ReadmoreNote(s):UnitedStates;October2020;6yearsandolder;MondaytoSunday,6amtomidnightSource(s):Nielsen;TalkersCHAPTER

03Content&reachLeadingaudiostreaminggenresinUnitedStatesandCanadaasofFebruary2022TopaudiostreaminggenresintheU.S.&Canada202290%80%70%60%50%40%30%20%10%0%14Description:Accordingtoastudyfromearly2022onaudioconsumptioninUnitedStatesandCanada,ChristianmusicandAAAwerethemostpopulargenresamongstreamingaudioconsumers,wholistentosuchcontentweeklyormore.Another65percentofrespondentsstatedthattheyconsumedurbanmusicwhenaudiostreaming.Lesspopularwasthegenreofalternativewith27percentofaudiostreamingconsumerssayingthattheylistenedtoit.ReadmoreNote(s):Canada,UnitedStates;2022;18yearsandolderSource(s):JacobsMedia;RadioWorldLeadingradioformatsintheUnitedStatesasofJune2021,bynumberofstationsLeadingradioformatsintheU.S.in2021,bynumberofstationsNumberofstations1,00005001,5002,0002,500CountryReligion(Teaching,Variety)News/Talk2,2002,0452,002ContemporaryChristianVariety1,2891,2571,228SpanishClassicHits1,140SportsTop40ClassicRockAdultContemporaryHotAC669618587575469443AlternativeRock15Description:Countrymusicstationsweremostfrequentradioformatsin2021,with2,200uniquestationsintheUnitedStatesthatyear.Alsopopularwerenewsandtalkshows,withover2,000stationsfallinginthiscategory.ReadmoreNote(s):UnitedStates;dataaccessedonJune29,2021Source(s):RadioAdvertisingBureauAudienceofvariousradioformatsintheUnitedStatesin2021,byageDistributionofU.S.radioformatsaudiencein2021,byage18-246.6%10.3%7.7%1.1%2.1%4.4%1.9%10.9%19.8%7.1%6.9%3.3%10.8%25-3413.9%18.6%14.4%2.7%35-4417.7%20.7%19.8%3.3%45-5420.3%20.9%28.8%14.9%19.3%19.8%16.2%18.6%15.4%24.1%25.6%13%55-6425.6%17%65+16%AAA(SubsetofAlternative)AdultContemporaryAdultHits12.5%9.8%19.5%16.9%24.8%22.2%23.4%16.5%8.6%AdultStandardsAllNews61.2%36.7%20.7%42.3%7.9%5.1%12%AllSports12.7%5.8%20.4%10.4%21.7%24%AllTalkAlternative24.5%27.6%10.5%13.9%8.4%CHR/Top40ClassicHits4.7%14%24.4%27.8%19.6%19.2%19.8%10.7%43.5%17.2%ClassicRockClassical15.2%12.2%15.74%Country19.3%17.8%16Description:DuringanaverageweekinSpring2021,43.5percentof'Classical'radiolistenersintheUnitedStateswereover65yearsofage.Consideringthedistributionofvariousradioformats'audiencebyage,itiscleartoseethatthisgenreislessappealingtotheyoung,withonly8.4percentofadultsagedunder25tuninginto"Classical"radio.ReadmoreNote(s):UnitedStates;November2020toApril2021;83respondents;18yearsandolderSource(s):MRI-Simmons;RadioAdvertisingBureauWeeklyradioreachintheUnitedStatesasofJune2023,byageandgenderRadioreachintheU.S.in2023,byageandgenderAge

group12+Persons82%Men81.9%73.5%82.8%71.4%74.8%79.3%82.8%87.2%86.7%84.2%Women82%12-1718+75.2%82.7%73%76.9%82.5%74.7%77.7%81.1%83.7%86.5%83.3%80.5%18-2418-3418-4925-5435-6455+76.1%80.2%83.2%86.8%84.9%82.2%65+17Description:DuringanaverageweekinJune2023,radioreached87.2percentofallAmericanmenagedbetween35and64yearsofage.Alladultsofthisagegroupwerethemostexposedtoradio,regardlessofgender.Thelargestdifferencesbetweenthegenderswasbetweentheoldestadults,withmenaged65andoverevenmorelikelytolistentotheradio.ReadmoreNote(s):UnitedStates;June2023;12yearsandolder;MondaytoSunday,12a.m.-12p.m.;dataaccessedonJune16,2023Source(s):NielsenAudio;RadioAdvertisingBureauWeeklyradioreachintheUnitedStatesasofJune2023,bytimeofday,gender,andagegroupRadioreachintheU.S.in2023,bytimeofday,gender,andageAge

group6

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midnight40.2%Persons12+Persons12-17Persons18+Persons18-24Persons18-34Persons18-49Persons25-54Persons35-64Persons55+Persons65+Men12+36.5%59.1%44.2%48.8%55.4%60.1%65.6%62.3%58.4%58.5%48.2%59.5%40.5%38.8%39.1%64%41.4%67.7%73.5%75.7%74.1%67.2%48.4%69.1%42.9%44.6%38%33.7%40.6%Men12-1733.9%Men18+41.3%18Description:AccordingtoastudyonradioreachintheUnitedStatesin2023,duringanaverageweekthatyear,radioreached65.1percentofallwomenbetween35and64yearsofageduringthehoursfrom6a.m.to10a.m.

ReadmoreNote(s):UnitedStates;June2023;12yearsandolder;Monday-SundayWeeklyCumeRating;dataaccessedonJune16,2023Source(s):NielsenAudio;RadioAdvertisingBureauWeeklyradioreachamongHispanicsintheUnitedStatesasofJune2021,byageandgenderRadioreachamongHispanicsintheU.S.2021,byageandgenderAge

group12+Persons84.5%72.6%86.2%79.1%82.8%85.6%88.1%90%Men84.2%70.3%86.2%76.5%81.2%58%Women84.8%75%12-1718+86.1%82.1%84.6%86.4%88%18-2418-3418-4925-5435-6455+88.1%91%88.9%84.4%81%86.5%83.3%88.9%86.3%65+19Description:DuringanaverageweekinJune2021,radioreached90percentofallHispanicmenagedbetween35and64yearsofage.Alladultsofthisagegroupwerethemostexposedtoradio,regardlessofgender.Thelargestdifferencesbetweenthegenderswasbetweentheyoungeradults,withmenagedbetween18and24overfivepercentmorelikelytolistentotheradio.ReadmoreNote(s):UnitedStates;June2021;12yearsandolder;dataaccessedJune28,2021Source(s):NielsenAudioWeeklyradioreachamongAfricanAmericansintheUnitedStatesinJune2021,byageandgenderRadioreachamongAfricanAmericansintheU.S.in2021,byageandgenderAge

group12+Persons81.7%68.3%83.4%75.8%78.9%81.5%84.2%86.7%85.5%82.8%Men80.9%63%Women82.4%73.7%83.4%78.9%80.8%82.6%84.5%86%12-1718+83.4%72.8%76.9%80.4%83.9%87.5%88%18-2418-3418-4925-5435-6455+83.6%81.2%65+85.2%20Description:AstudyonradioreachamongAfricanAmericansintheUnitedStatesinJune2021,foundthatduringanaverageweekin2021,radioreached81.7percentofallAfricanAmericansbetween35and64yearsofage.

ReadmoreNote(s):UnitedStates;June2021;12yearsandolderSource(s):NielsenAudioCHAPTER

04ConsumptionAveragedailytimespentlisteningtotheradioperadultintheUnitedStatesfrom1stquarter2015to1stquarter2020(inminutes)U.S.mediause:timespentlisteningtotheradio2015-202012011211111110610299100806040200Q12015Q12016Q12017Q12018Q12019Q1202022Description:Inthefirstquarterof2020,theaverageU.S.consumerspent99minutesdailywithradiocontent,oronehourand39minutesperday,downthreeminutesfromthecorrespondingquarterof2019.DataonthedailytimespentlisteningtoAM/FMradioperadultintheUnitedStatesfrom2015to2020revealsagradualdecreaseinradiolisteningforthemostpart,thoughthebiggestdropoccurredbetween2017and2018.

ReadmoreNote(s):UnitedStates;Q12015toQ12020;18yearsandolderSource(s):NielsenWeeklyradioreachintheUnitedStatesasofJune2023,byageandgenderRadioreachintheU.S.in2023,byageandgenderAge

group12+Persons82%Men81.9%73.5%82.8%71.4%74.8%79.3%82.8%87.2%86.7%84.2%Women82%12-1718+75.2%82.7%73%76.9%82.5%74.7%77.7%81.1%83.7%86.5%83.3%80.5%18-2418-3418-4925-5435-6455+76.1%80.2%83.2%86.8%84.9%82.2%65+23Description:DuringanaverageweekinJune2023,radioreached87.2percentofallAmericanmenagedbetween35and64yearsofage.Alladultsofthisagegroupwerethemostexposedtoradio,regardlessofgender.Thelargestdifferencesbetweenthegenderswasbetweentheoldestadults,withmenaged65andoverevenmorelikelytolistentotheradio.ReadmoreNote(s):UnitedStates;June2023;12yearsandolder;MondaytoSunday,12a.m.-12p.m.;dataaccessedonJune16,2023Source(s):NielsenAudio;RadioAdvertisingBureauDevices/platformsusedforradioconsumptionintheUnitedStatesandCanadaasofFebruary2021RadioconsumptionintheU.S.&Canada2021,bydevice/platform45%39%40%35%30%25%20%15%10%5%25%17%8%7%4%3%0%AM/FMradioinvehicleAM/FMradioathome,

ComputerstreamworkorschoolMobileappsSmartspeakerPodcastsOther24Description:Astudyofcoreradiolistenersfrom2021onradioconsumptionintheUnitedStatesandCanadafoundthatradioconsumersstatedtheylistenedtoAMorFMradiowhileinavehicle39percentofthetime.Radiolisteningathome,work,orschoolcomprised25percentoftimespentlisteningtoradio,comparedtoonly17percentoflisteningtoradioviaacomputerstream.ReadmoreNote(s):Canada,UnitedStates;January5toFebruary7,2021;42,224coreradiolisteners;18yearsandolder;from470radiostationdatabasesSource(s):JacobsMediaChangeinAM/FMradioconsumptioninUnitedStatesandCanadaasofFebruary2021ChangeinradiolisteninginU.S.&Canada202160%50%40%30%20%10%0%MoreSame-AlotSame-NotalotLess25Description:Accordingtoastudyfromearly2021onAM/FMradioconsumptioninUnitedStatesandCanada,14percentofsurveyedradiolistenerssaidthattheirradioconsumptionhasbeenthesametonotchangedalot.Contrarily,13percentofrespondentsstatedthattheylistenedtolessAMandFMradiowhile23percentstatedthattheyconsumedmoreradiocomparedtothepreviousyear.ReadmoreNote(s):Canada,UnitedStates;January5toFebruary7,2021;42,224coreradiolisteners;18yearsandolder;from470radiostationdatabases;amongthosewholistentoAM/FMradioSource(s):JacobsMediaRadiouseamonghighincomeadultsintheUnitedStatesasofJune2021,bygenderRadiouseamonghighincomeadultsintheU.S.in2021,bygenderPersons18+Men18+Women18+605800700600500400300200100066953782.783.182.1Weeklyreach(inpercent)Averageweeklytimespentlistening(inminutes)26Description:DuringanaverageweekinJune2021,menintheUnitedStateswithanincomeof75,000U.S.dollarsormorespent11hoursand15minuteslisteningtotheradio.ThisissignificantlyhigherthantheradioreachforAmericanwomenwithhighincomes,withtheaveragetimebeing8hoursand57minutesperweek.ReadmoreNote(s):UnitedStates;June2021;18yearsandolder;adultswithincomeof$75,000+/Monday-Sunday24-HourWeeklyCumeandTSLEstimatesSource(s):NielsenAudio(Radar140);RadioAdvertisingBureauCHAPTER

05AdvertisingRadioadvertisingspendingintheUnitedStatesfrom2020to2024(inbillionU.S.dollars)RadioadspendintheU.S.2020-2024141211.8811.8211.7611.2110.1108642020202021*2022*2023*2024*28/statistics/1183947/radio-ad-spend-usaDataevaluatingtheradiomarketintheUnitedStatesshowsthatin2020radioadvertisingspendinginthecountryamountedto10.01billionU.S.dollars.Itisforecastthatspendingonradioadswillgrowto11.76billiondollarsbytheendof2024.

ReadmoreNote(s):UnitedStates;2020;excludesoff-airradioanddigital;*Forecast.ReadmoreSource(s):eMarketer;InsideRadioShareofdigitalinradioadvertisingrevenueintheUnitedStatesfrom2013to2022DigitalshareofradioadrevenueintheU.S.2013-202220%18%16%14%12%10%8%19%17%13.7%10.1%8.1%7%5.9%20166%4%2%0%5.2%20154.4%20143.6%201320172018201920202021202229Description:In2022,digitalsalesaccountedfor19percentofradioadvertisingrevenueintheUnitedStates.Thismarkedatwopercentincreasefromthepreviousyear'sshareof17percent.

ReadmoreNote(s):UnitedStates;2015to2022Source(s):BorrellAssociates;InsideRadio;RadioAdvertisingBureauRadiostationadvertisingrevenuesintheUnitedStatesfrom2006to2023,bytype(inbillionU.S.dollars)RadiostationadrevenuesintheU.S.2006-2023,bytypeOver-the-airOnline0.71142018160.4914.30.60.6314.30.8114.10.4114.10.4414.114121080.8913.50.9213.31.482.71.8810.9120212.81.469.5718.117.916.514.313.312.68611.310.44202006200720082009201020112012201320142015201620172018201920202022*

2023**30Description:Thesourceforecastthat,in2023,radiostationadvertisingrevenuesintheUnitedStateswillamounttoapproximately13.2billionU.S.dollars,ofwhich2.8billion(orroughly21percent)willcomefromonlineradio.Duringthepreviousyear-boostedbypoliticalads-radioadspendingamountedtoanestimated14billiondollars,withdigitalradioaccountingforaround2.7billiondollars(or19percent)ofthetotalexpenditure.ReadmoreNote(s):UnitedStates;2006to2022;*Estimates.Source(s):BIAAdvisoryServices;InsideRadiocalculatedthefiguresbasedonthesource'sdata.**Forecasts.Noonlineradiodataavailablepriorto2010.Datapreceding2022comesfromearlierreleases.Numbershavebeenrounded.

ReadmoreGrowthoflocalradiostations'digitaladvertisingrevenueintheUnitedStatesfrom2012to2021LocalradiodigitaladrevenuegrowthintheU.S.2012-202130%24.6%25%22%20%18%16%15%15%15%10%5%13.4%12%11.8%11.4%0%2012201320142015201620172018201920202021*31Description:AccordingtomarketdatagatheredamonglocalradiostationsintheUnitedStates,thedigitaladvertisingforthesestationsgrewby11.8percentin2020comparedtopreviousyear.Whatismore,in2021localradiodigitaladrevenuegrowthisexpectedtoreach18percent.ReadmoreNote(s):UnitedStates;2012to2020;*Forecast.Figurespreceding2015wereretrievedfromearlierreports.

ReadmoreSource(s):BorrellAssociates;MarketingCharts;RadioAdvertisingBureauRadiolocaldigitaladvertisingrevenueintheUnitedStatesfrom2002to2023(inmillionU.S.dollars)RadiolocaldigitaladvertisingrevenueintheU.S.2002-20232,5002,0001,5001,0005002,1001,8001,5001,1201,0028047006175514954263713042862722201891256034181802002

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202332Description:Accordingtoindustrydata,localradiodigitaladvertisingrevenueintheUnitedStatesreached1.8billionU.S.dollarsin2022.Bytheendof2023,therevenuewasexpectedtoreach2.1billiondollars.

ReadmoreNote(s):UnitedStates;2002to2022;*Forecast.Figurespreceding2022wereretrievedfromearlierreports.

ReadmoreSource(s):BorrellAssociates;InsideRadioCHAPTER

06RadionewsFrequencyofusingtheradioasasourceofnewsamongadultsintheUnitedStatesasofAugust2022FrequencyofradionewsconsumptionintheU.S.202235%30%32%25%20%20%15%10%5%17%10%10%8%4%0%DailyAfewtimesperweekOnceperweekAfewtimespermonthOncepermonthLessoftenthanoncepermonthNever34Description:TheresultsfromanAugust2022surveyfoundthat17percentofsurveyedU.S.adultsstatedthattheyusedtheradiofornewsonadailybasis.Bycontrast,atotalof32percentneverusedtheradiofornews.Thesharewaslowestamongadultsaged18to34yearsold,with12percentreportingthattheyneverusedtheradiotokeepuptodate.ReadmoreNote(s):August11to17,2022;4,421respondents;18yearsandolderSource(s):MorningConsultProfitabilityofradionewsstationsintheUnitedStatesfrom2000to2022ProfitabilityofradionewsintheU.S.2000-2022ShowingprofitBreakingevenShowinglossDon'tknowNon-profit120%100%80%60%40%20%0%200020052010201520172018201920202021202235Description:Accordingtothemostrecentlyavailabledata,in2022just12.2percentofsurveyedradiostationsreportedthattheywereshowingprofit,lessthanhalfthefigurereportedfortheyear2000.Interestingly,thedatarevealsthatineachyearthemajorityofsurveyeddirectorsandmanagersreportedthattheydidnotknowwhethertheirstationswereshowingprofitabilityornot.ReadmoreNote(s):UnitedStates;2000to2022;2022:3,379*;*Randomsampleof3,379radiostations-responsescamefrom765radionewsdirectorsandgeneralmanagersrepresentingatotalof2,310radiostations.

ReadmoreSource(s):HofstraUniversity;RTDNA;SyracuseUniversityProfitabilityofradionewsstationsintheUnitedStatesasof4thquarterof2021,bymarketsizeProfitabilityofradionewsintheU.S.2021,bymarketsizeShowingprofitBreakingevenShowinglossDon'tknowNon-profit120%100%80%60%40%20%0%MajormarketLargemarketMediummarketSmallmarket36Description:AstudyprofitabilityofradionewsstationsintheUnitedStatesasofthefourthquarterof2018,brokendownbymarketsize.Accordingtothemostrecentlyavailabledata,inthefinalquarterof2021,just13.5percentofsurveyedmajormarketradionewsstationsreportedthattheywereshowingprofit.Conversely,just13.1percentofsmallmarketstationssaidthesame.ReadmoreNote(s):UnitedStates;Q42021;seesupplementarynotesSource(s):HofstraUniversity;RTDNABudgetchangesintheradionewsindustryintheUnitedStatesfrom2017to2021ChangestoradionewsstationsbudgetsintheU.S.2017-2021201720182020202170%60%50%40%30%20%65.3%63.5%61.1%55.3%18.2%18.4%15.8%16.1%15.5%13%12.2%12.4%9.3%8.6%8.1%7.3%10%0%IncreaseDecreaseSameDon'tknow37Description:AninvestigationintobudgetchangesintheradionewsindustryintheUnitedStatesrevealedthatjust12.4percentofradionewsstationshadanincreaseintheirbudgetin2021,howeverthevastmajorityreportedthattheirbudgethadstayedthesameoverthelastyear,withthefiguresshowingsimilarnumbersbetween2017and2020.ReadmoreNote(s):UnitedStates;2017to2021;2021:3,379*;*Atotalof3,379radiostations-validresponsescamefrom765radionewsdirectorsandgeneralmanagersrepresenting2,310radiostations.

Datapriorto2021comesfrompreviousreporting.

ReadmoreSource(s):HofstraUniversity;RTDNA;SyracuseUniversityShareofminorityemployeesintheradionewsworkforceintheUnitedStatesfrom1990to2022MinorityradionewsworkforceintheU.S.1990-202220%18%16%17.8%15.8%15.4%14.7%14%12%10%8%10.8%10%9.8%7.9%20056%5%4%2%0%19901995200020102015202020212022*38Description:SmallgainsweremadeintermsoftheminorityworkforceinradionewsintheUnitedStatesbetween1990and2021,withthepercentageamountingto15.8percentin2021,upbyfivepercentoverthe20yearperiod.Themostrecentsurveyheldattheendof2021projectedthatminorityemployeeswouldseeaslightincreaseinrepresentationin2022,withyear-on-yeargrowthoftwopercent.ReadmoreNote(s):UnitedStates;1989to2022;*Datafor2022isprojected.Surveysareheldinthefourthquarterofeachyearandarerepresentativeofthecomingyear,forexampledatafor2021wasgatheredinQ42020.ThesurveyheldinQ42021was[...]

ReadmoreSource(s):HofstraUniversity;RTDNACHAPTER

07DigitalradioWeeklytimespentwithonlineradio/audiointheUnitedStatesfrom2008to2021(inminutes)WeeklytimespentwithonlineradiointheU.S.2008-20211,2001,0008001,00397491287982079977372871658660040020005574823913732008200920102011201220132014201520162017201820192020202140Description:TheweeklytimespentwithonlineradioandotheronlineaudiosourcesintheUnitedStatesincreasedto974minutesin2021,withtheamountoftimespentperweekamountingto16hoursand14minutes.Thisincreasemightbecausedbytheriseintimespentathomeduetothepandemic.ReadmoreNote(s):UnitedStates;2010to2021;1.507;12year