Radio Broadcasting in Australia Industry Market Research Report Now Updated by IBISWorld
Melbourne, Australia (PRWEB) July 27, 2013 -- The Radio Broadcasting industry in Australia comprises all radio broadcasters, including government, commercial broadcasters and community radio broadcasters. In 2013-14, IBISWorld forecasts the industry to generate revenue of $1.5 billion, representing growth of 2.1% from the previous year. According to IBISWorld industry analyst Craig Shulman, “This growth comes due to improving economic conditions and advertising revenue growth over the previous year, stemming from improved consumer and business sentiment.” Revenue is estimated to grow at a compound annual 1.2% over the five years through 2013-14, constrained by economic uncertainty.
The introduction of digital radio has been one of the largest technological advancements in the industry over the past five years. Anticipated as a new avenue for the industry, this new medium has struggled in an environment where portable computing and increasing internet accessibility are influencing consumer entertainment choices. The rising popularity of smartphones and the introduction of 3G mobile technologies have prompted growth in podcasts (non-time specific radio programming) and audio streaming through online products such as Spotify and Pandora. “These have proved to be increasingly burdensome forms of competition to the industry,” says Shulman.
Market share concentration in this Radio Broadcasting industry is high. The industry has recently undergone significant changes in ownership. Southern Cross Broadcasting purchased Austereo in May 2011, while regional player Grant Broadcasters purchased Fairfax's regional assets during 2011-12. This restructuring resulted from the federal media laws announced in early 2007, which relaxed some cross-media ownership provisions. Merger and acquisition activity is likely to continue in the short term. Major players in the industry include Southern Cross Media Group Limited, Australian Broadcasting Corporation, DMG Radio Pty Ltd, APN News and Media Limited, and Fairfax Media Limited. Competition from other forms of media is expected to rise during the five years through 2018-19, as these forms grow in prominence and sophistication. Mobile technology is expected to advance further with the introduction of 4G, facilitating further audio streaming from these devices. Furthermore, interest in advertising spending is recovering slowly as the Australian economic outlook remains uncertain. One possible avenue for growth, however, is the introduction of digital radios into new cars, where an increasingly higher proportion of radio listeners are located.
For more information, visit IBISWorld’s Radio Broadcasting report in Australia industry page.
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IBISWorld industry Report Key Topics
Enterprises engaged in this industry are broadcasters of content on an issued and licensed radio frequency. Broadcasters include both commercial and public operations. Falling into this industry is a collection of news, music and personality radio services, as well as the production of these radio programs.
Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
International Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalisation
Major Companies
Operating Conditions
Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance
Key Statistics
Industry Data
Annual Change
Key Ratios
About IBISWorld Inc.
Recognised as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every Australian industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Melbourne, IBISWorld serves a range of business, professional service and government organisations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com.au or call (03) 9655 3886.
Gavin Smith, IBISWorld, 310-490-5973, [email protected]
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