Global Internet Radio Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Internet Radio Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview:

The latest research study on the global Internet Radio market finds that the global Internet Radio market reached a value of USD 13066.7 million in 2022. It’s expected that the market will achieve USD 25815.12 million by 2028, exhibiting a CAGR of 12.02% during the forecast period.

People's attention to COVID-19 is very high, thus increasing the listening frequency of Internet radio

The COVID-19 epidemic has affected the international community on an unprecedented scale, and everyone's life has been affected by the COVID-19 epidemic. Therefore, during the COVID-19 outbreak, most people were forced to stay at home. This is a period of anxiety and stress, so people are very concerned about the progress of global epidemics. More people started listening to Internet radio at home to get real-time news about COVID-19, and the frequency of listening became more frequent. Some listeners reported that listening to their Internet radio programs during the COVID-19 outbreak helped them understand important local information, help them understand the available local resources, help them feel connected to the community, and reduce stress and anxiety. And Internet radio programs related to music also help people relax and spend time at home.

The accuracy of Internet radio information is concerned by more users

During the outbreak of COVID-19, some people may pay too much attention to relevant news about COVID-19 because of panic about the disease. But the information from the Internet is not necessarily completely accurate, and sometimes it can cause unnecessary panic anxiety, especially for children and the elderly. At this time, the accuracy of the Internet radio platform's information about COVID-19 has become more important. Although sometimes false news will attract many people's attention in the short term, accurate and objective news in the long run can attract more users to listen to.

Radio advertising has a lower influence

Advertising is an important way for Internet radio platform profit gain. However, there are some restrictions on radio advertising. On the one hand, broadcasting is an audible media, audible information is fleeting, and advertisements are likely to be missed or forgotten. And most Internet radio users' listening is done in multitasking, and many listeners regard the broadcast as a pleasant background and do not listen to its content seriously. On the other hand, radio advertising lacks vision. Sound limitations can hinder creativity. Products that must be displayed or viewed are not suitable for broadcast advertising. These factors limit the profitability of Internet radio platforms.

The rapid development of Internet technology is changing people's habits

At present, emerging Internet-based media is developing at an alarming rate, accelerating the introduction of Internet radio technology and applications. At the same time, with the broadband network, multimedia broadcasting, and other audiovisual new media services such as AR / VR, the development momentum is strong, and consumers' consumption habits and lifestyles are changing. Due to the convenience and interactivity of Internet radio, many traditional broadcast users have begun to use Internet radio.

Growth of Internet of Things (IoT) devices

In recent years, the number of IoT device connections has grown strongly. Including computers, tablets, smartphones, and wearable devices, entertainment electronic devices, household appliances, vehicles, and industrial machinery, the number of connected devices has exploded. This brings new opportunities to the Internet radio industry. The expansion of the broadcast platform allows users to listen to Internet radio programs in more places.

Region Overview:

North America dominated the Internet Radio market in 2022, with a market share of 55.02%.

Company Overview:

SiriusXM is one of the major players operating in the Internet Radio market, holding a share of 20.71% in 2023.

SiriusXM

Sirius XM Holdings Inc. is the leading audio entertainment company in the U.S., and the premier programmer and platform for subscription- and digital advertising-supported audio products. Pandora, a subsidiary of SiriusXM, is the largest ad-supported audio entertainment streaming service in the U.S.

Spotify

Spotify Limited provides online digital music services. The company provides users with access to a catalog of licensed music, as well as on-demand access to songs on devices, computers, mobile phones, tablets and home entertainment systems.

Segmentation Overview:

As for product types, the Music Radio segment held the largest market share in 2022.

Spoken Radio

Spoken Radio usually includes forms such as character interviews, news comments, and special presentations. Most programs are regularly hosted by one person, and often interviewed by many different guests.

Music Radio

Music Radio takes music as the main broadcast content. The music program host provides accompanying music appreciation, disseminates music information, guides the audience's music appreciation taste, and even influences the popular trend of music.

Application Overview:

The market's largest segment by application is the segment Mobile, with a market share of 72.58% in 2022.

Key Companies in the global Internet Radio market covered in Chapter 3:

Univision
Antenne Bayern
1LIVE
SiriusXM
Deezer
Apple Music
TuneIn
Beasley Media Group
RMC
iHeartMedia
CUMULUS MEDIA
France Inter
Entercom
Spotify
Tencent Music
SWR3 Livestream

In Chapter 4 and Chapter 14.2, on the basis of types, the Internet Radio market from 2018 to 2029 is primarily split into:

Spoken Radio
Music Radio

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Internet Radio market from 2018 to 2029 covers:

Mobile
Desktop

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)