GITNUX MARKETDATA REPORT 2024

The Most Surprising Broadcast Industry Statistics in 2024

With sources from: grandviewresearch.com, prnewswire.com, ibisworld.com, statista.com and many more

In this post, we explore the dynamic landscape of the broadcast industry through a compilation of compelling statistics. These statistics shed light on the global market size, evolving technologies, viewer trends, production costs, employment figures, and revenue generation within the vibrant realm of broadcast television. Join us as we delve into the data-driven insights that define the present and future of this ever-evolving industry.

Statistic 1

"The global broadcast television market size was valued at USD 217.67 billion in 2020."

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Statistic 2

"55% of broadcast executives believe that AI will significantly impact content distribution in the next five years."

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Statistic 3

"In 2020, livestreaming viewership of events increased by over 50% due to the pandemic."

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Statistic 4

"The cost of producing an hour of prime-time US cable show averages around $1.2 million."

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Statistic 5

"In 2021, the global broadcast media market grew by 5.4% to reach $275.2 billion."

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Statistic 6

"The broadcast industry is expected to grow at a compounded annual growth rate (CAGR) of 4.4% from 2021 to 2028."

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Statistic 7

"Video-on-demand platforms saw a 15% surge in subscriptions during the COVID-19 pandemic."

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Statistic 8

"There were 1,758 commercial TV stations in the United States as of 2020."

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Statistic 9

"Cable TV subscriptions have declined by 20% in the past ten years."

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Statistic 10

"Broadcasting and cable TV industry in the U.S. employs over 110,000 people as of 2021."

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Statistic 11

"Digital TV revenue is projected to surpass $150 billion globally by the end of 2023."

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Statistic 12

"Major broadcast networks like NBC, CBS, and ABC have been in operation for over 75 years."

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Statistic 13

"Streaming services are predicted to account for 80% of total TV market revenue by 2025."

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Statistic 14

"Local TV news viewership increased by 4% in early 2020."

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Statistic 15

"The combined audience reach of the three major US networks was 21 million viewers in 2021."

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Statistic 16

"85% of US households have at least one television."

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Statistic 17

"The U.S. broadcast TV industry generated approximately $33.78 billion in revenue in 2020."

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Statistic 18

"Today, over-the-top (OTT) video services account for 43% of all broadcast and video streaming viewership."

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Statistic 19

"92% of U.S. homes have access to HD TV services as of 2021."

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Statistic 20

"The average American watches 3 hours and 35 minutes of television per day."

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Interpretation

The statistics paint a dynamic picture of the broadcast industry, showcasing both its resilience and adaptability in the face of changing landscapes. From the substantial market growth and employment figures to the rise of streaming platforms and the impact of technological advancements like AI, it is evident that the industry is constantly evolving to meet the demands of modern audiences. The statistics indicate a shift towards digital platforms, with a strong emphasis on content distribution and viewer engagement. As we look towards the future, it is clear that the broadcast industry will continue to play a significant role in shaping the way we consume media, highlighting the importance of innovation and staying attuned to consumer preferences.

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The statistics are checked by us and then entered into the database. Our market data reports have been linked to by some of the largest publishers and companies on the Internet.

Learn more about our process here.

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