GIA announces the release of a comprehensive global report on Internet Radio markets. Advertising revenues in the global Internet Radio market are projected to reach US$1.2 billion by 2018, driven by rising sales of connected home audio devices, Internet-enabled mobile devices, and in-vehicle entertainment systems.
Radio is one of the few media platforms that remains relevant even today supported by improvement in quality of programming and technological innovations that have ensured its availability over newer platforms. Traditional radio service providers have effectively leveraged these technological advancements and the expanding global Internet network to provide audio broadcasting services to a wider group of users from stations across the globe. With Internet radio, users have the benefit of tuning in to their favorite radio stations through their computers, portable wireless devices, or other dedicated Internet radio devices from any location. Internet-enabled digital portable devices and in-vehicle entertainment systems are expected to drive growth in the Internet Radio market. In particular, the explosive sales of Internet-connected devices such as smartphones, automotive entertainment systems, tablet PCs, and computers, among others, enable users to search for and access music and other types of content.
Though Internet Radio usage is the highest among younger users, the concept is expected to gain ground across all age groups led by rising user familiarity with the Internet. Currently, there are several Internet radio stations available, ranging from individual and local small streaming stations to big portals, each offering the advantage of personalization and interactivity over conventional terrestrial broadcasts. While Pandora dominates this space in the US, Spotify holds the ground in Europe. In addition to pure-play companies, the market is also witnessing the entry of several traditional radio broadcasters. Advertising remains the primary mode of monetization in the Internet radio market, with most stations offering consumers the option of ad-free (subscription-based) or ad-supported (free) services. The inherent reluctance of users to pay for radio services and subsequent rise in overall advertising to support operations, and the growing effectiveness of advertising on radio are expected to bode well for the Internet radio market.
As stated by the new market research report on Internet Radio, the United States represents the single largest market worldwide. Rising broadband penetration is helping foster growth of Internet radio services in the country. Increased use of the Internet radio advertising platform among advertisers and marketers, as a result of the growing popularity of Internet radio streaming among smartphone users, is expected to benefit the market. The lower advertising load in comparison to terrestrial radio additionally encourages adoption of
Internet radio advertising. Europe is another key market for Internet radio services, with rapid expansion of digital technology being a major growth driver. Rising demand for personalized music services, particularly among the younger generation, the gradual shift towards advanced platforms, and consumer demand for anytime anywhere access to music is helping expand the audience base for Internet radio.
Major players profiled in the report include 8tracks, 977 Music Inc., AccuRadio LLC, AOL Radio, Clear Channel Communications Inc., Deezer, Digitally Imported Inc., Grooveshark, Last.fm, Pandora Media Inc., Rhapsody International, Slacker Inc., Spotify Ltd., TuneIn, and We7, among others.
The research report titled “Internet Radio: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a review of market trends, issues, drivers, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections for major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, and Rest of Europe), Asia-Pacific, and Rest of World.
For more details about this comprehensive market research report, please visit –
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world’s largest and reputed market research firms.
Source: Global Industry Analysts, Inc.