Television is transforming
Television has served visual entertainment to millions of people long before the dawn of online streaming services. And yet, video content that is delivered on-demand and over-the-top (OTT) via the internet is becoming more popular each year, serving as a key driver of change for the broadcasting industry. Streaming video contributes heavily to the ever-growing number of TV households in the U.S., with smart TVs and other internet-enabled devices rapidly finding their way into viewers' homes while traditional pay TV is slowly becoming a thing of the past. Looking at TV's top performers, revenue of Comcast, Fox, and other broadcasting giants all peaked in 2022. This upswing was largely fueled by the boost in TV advertising spending, which nearly returned to pre-pandemic levels in 2022. Television has always been a powerful advertising medium, and now that televised live events such as the Super Bowl are resuming, advertising slots are as sought-after and expensive as ever.Is radio falling from grace
Radio is the oldest analog broadcasting medium in the United States and worldwide. Even though the format was prematurely pronounced dead multiple times during its centennial history, radio remains a staple across millions of U.S. households to this day. However, recent Industry data revealed that radio reach in the U.S. stood firmly at around 90 percent for the past decade. However, this share dropped to an estimated 83 percent amid the pandemic, and remains there still - in 2023 around 82 percent of the population listened to the radio on a weekly basis. All in all, a return to pre-pandemic financial levels is in sight for major players like Sirius XM or iHeartMedia. With that said, the radio advertising revenues of 2022 and 2026 indicate a slow but steady radio revival.
