LONDON, Aug. 10, 2021 (GLOBE NEWSWIRE) -- According to The Business Research Company’s television broadcasting market research report, new trends in the television broadcasting industry involve the players operating in the market mainly focusing on digital transformation to survive in the competitive business environment. During the coronavirus pandemic, many television broadcasting companies are attracting a large number of customers through digital transformation and are gaining a competitive advantage over the other competitors operating in the market.
Technology will continue to play a dynamic role in fundamentally improving economics and redefining the business ecosystem. The focus of broadcasting companies is on exploring new technologies and business models that foster enhanced deliveries and a deeper understanding. For instance, the digital transformation of the media industry puts greater power in consumer’s hands by allowing viewers to watch content at their own convenient time instead of watching content at scheduled times.
Asia-Pacific is the largest region in the television broadcasting market, accounting for 29.1% of the total in 2020. It was followed by North America, Western Europe, and then the other regions. Going forward, the fastest-growing regions in the television broadcasting market will be Africa and the Middle East where growth will be at CAGRs of 11.1% and 10.2% respectively during 2020-2025. These will be followed by South America and Eastern Europe, where the markets are expected to register CAGRs of 8.9% and 5.8% respectively during 2020-2025.
The global television market size in 2020 was $217.05 billion, and as per TBRC’s television industry statistics, it is expected to grow to $234.22 billion in 2021 at a compound annual growth rate (CAGR) of 7.9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $296.22 billion in 2025 at a CAGR of 6%.
The Business Research Company’s report titled Television Broadcasting Market - By Type (Television stations, Television networks), By Broadcaster Type (Public, Commercial), By Revenue Source (Subscription-Based, Advertisement-Based), And By Region, Opportunities And Strategies – Global Forecast To 2030 covers major television broadcasting companies, television broadcasting market share by company, television broadcasting manufacturers, television broadcasting market size, and television broadcasting market forecasts. The report also covers the global television broadcasting market and its segments.
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The television broadcasting market is highly concentrated with a small number of large players dominating the market. The top ten competitors in the market made up to 90.66% of the total market in 2020. Major players in the market include Comcast Corporation, Walt Disney, Time Warner, ViacomCBS, NBC Universal, Dish Network, Fox Corporation, BBC, ABC, and A&E Television Networks.
Companies in the television broadcasting market are increasingly merging with other companies to improve financial strength and expand the geographical presence of their company. For instance, in August 2020, Byron Allen's Allen Media Group division, Allen Media Broadcasting announced the acquisition of broadcast television station KITV from SJL Broadcasting for $30 million. In February 2020, Allen Media Broadcasting company acquired 11 broadcast television stations from USA Television MidAmerica Holdings LLC and USA Television Holdings LLC for $305 million.
In November 2016, Zee Entertainment Enterprises Ltd. (ZEEL) announced the acquisition of the General Entertainment Broadcasting Business of Reliance Big Broadcasting Private limited, Azalia Broadcast Private Limited, and Big Magic Limited, all part of Reliance Group (ADA Group). The TV broadcasting business of Reliance Group is comprised of operation general entertainment channel – Big Magic (Hindi Comedy Channel), GEC BIG Ganga (Bhojpuri Channel), and four other TV licenses.
Television Broadcasting Market - By Type (Television stations, Television networks), By Broadcaster Type (Public, Commercial), By Revenue Source (Subscription-Based, Advertisement-Based), And By Region, Opportunities And Strategies – Global Forecast To 2030 is one of a series of new reports from The Business Research Company that provide market overviews, analyze and forecast market size and growth for the whole market, segments and geographies, trends, drivers, restraints, leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies. The report also gives in-depth analysis of the impact of COVID-19 on the market.
The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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