Study Finds Local TV And Radio Industry Creates $1.17 Trillion In Economic Activity Annually Report finds 2.47 million jobs attributable to commercial broadcast industry WASHINGTON, D.C. - The local commercial broadcast television and radio industry generates $1.17 trillion of Gross Domestic Product (GDP) and 2.47 million jobs through direct and stimulative effect on the American economy, found a new study by Woods & Poole Economics with support from BIA Advisory Services.
The analysis examines local broadcasting's impact on the economy through direct employment, its ripple effect on other industries and as an advertising medium for messaging consumers. Local radio and television's influence on the national economy as well as all 50 states and the District of Columbia is broken out in the study.
America's local broadcast radio and TV stations play a unique role in every community across the country. They keep citizens informed with local news, viewers entertained with the most-watched programming and families safe with lifeline emergency information, said NAB President and CEO Gordon Smith. But broadcasting plays a pivotal economic role as well, creating hundreds of thousands of well-paying jobs while helping hometown small businesses reach local consumers through advertising.
The study found that direct employment from local commercial broadcasting, which includes jobs at local television and radio stations as well as in advertising and programming, is estimated at more than 318,000 jobs, generating more than $53 billion annually in economic impact. Broadcast television accounts for over 188,000 of these jobs, as well as more than $31 billion in GDP, while broadcast radio provides over 130,000 jobs that result in more than $21 billion in GDP.
Of the 318,000 jobs provided through direct employment, about one-third are tied to industries supporting local broadcasting.
Other industries are impacted by local television and radio broadcasting because they provide goods and services used in creating local television and radio broadcasting and advertising, said the study. Industries as varied as telecommunications, public utilities, manufacturing, transportation and retail trade provide inputs into the production of local television and radio broadcasting.
The study also examined the ripple effect employment in local broadcast television and radio has on local economies through the consumption of goods and services by industry employees. Local broadcasting has a ripple effect on other industries of over $132 billion in GDP and more than 794,000 jobs, the report concluded.
The income from local television and radio broadcast jobs flows through the economy creating additional jobs and income in various economic sectors, said the study. A job in local television and radio broadcast stations multiplies itself by helping create jobs in construction, farming, mining, state and local government and all other economic sectors. The workers in the industries supplying goods and services to local television and radio broadcast workers in turn consume goods and services.
Local broadcastings largest impact on the American economy stems from its role as a forum for advertising of goods and services that stimulates economic activity, Woods & Poole found. The study estimated local broadcast TV and radio advertising generated over $988 billion in GDP and supports 1.36 million jobs.
Local television and radio advertising serves an important role for both consumers and businesses in providing economic information on product prices and features, said the study. Reaching all United States households, local broadcast television and radio stations provide consumers with highly valued marketplace information and businesses with immediate economic and competitive intelligence. In this way, broadcast television and radio stations have their most significant impact on economic growth.
Woods & Poole analyzed only local commercial broadcast radio and television stations including locally owned and operated commercial stations, network affiliate stations and independent stations. Noncommercial radio and TV stations and the operations of over-the-air broadcast networks were not part of the analysis, except for networks owned-and-operated local television stations. The study was commissioned by the National Association of Broadcasters.
Woods & Poole senior economist Martin Holdrich is available to answer questions regarding the study. He can be contacted at (202) 332-7148 or mkholdrich@woodsandpoole.com..
About Woods & Poole Economics, Inc.
Woods & Poole Economics, Inc. is an independent economic and demographic research firm located in Washington, D.C. Woods & Poole specializes in long-range economic and demographic projections at the county level and has produced long-range county forecasts since 1983. Users of Woods & Poole data include public utilities, state and local government, consultants, retailers, market research firms and planners.
About BIA Advisory Services
BIA Advisory Services is at the forefront of local media, creating and delivering unique data and analytics to forecast traditional and digital media ad revenue, examine advertiser trends, track station ownership/operational details and explain the trends and technologies impacting the media business. The firm also delivers strategic consulting and valuation services to help clients discover the right path to their best opportunities. Most recently, BIA has developed a local market intelligence platform, BIA ADVantage, to offer direct access to its proprietary data and analytics.
Since 1983, the company has been a valuable resource for media companies, technology providers, brands and agencies, as well as financial and legal firms serving media and telecom, the FCC, DOJ, and other government agencies. Lear
North America Stories
19/04/2024
PARK CITY, UTAH - JANUARY 18: (L-R) John Early and Theda Hammel attend the 2024 Sundance Film Festival Stress Positions premiere at Library Center Theatre on ...
19/04/2024
By Lucy Spicer
One of the most exciting things about the Sundance Film Festival...
19/04/2024
Pictured: Midnight Family
By Stephanie Ornelas
A great way to get to know a city as culturally unique and rich as Mexico City is to listen to the stories tol...
19/04/2024
St. Louis, MO - April 18, 2024 - Studio Network Solutions (SNS) announced today that MOD won three prestigious industry awards at NAB Show 2024 held this week i...
19/04/2024
MELBOURNE, Fla., April 19, 2024 - The Board of Directors of L3Harris Technologies (NYSE:LHX) declared a quarterly cash dividend of $1.16 per common share, payab...
19/04/2024
PARIS Intel has announced that its plans for the Olympic and Paralympic Games Paris 2024 will include using artificial intelligence technology powered by Intel ...
19/04/2024
LAS VEGAS Technologists working on all aspects of the 8K media production chain offered an optimistic update at the 2024 NAB Show on the state of 8K in video pr...
19/04/2024
OpenDrives New Software-Defined Platform Atlas Wins 2024 NAB Show Product of the...
19/04/2024
Grass Valley Showcases Next-Generation T3 Series 4K/HD Digital Recording and Pla...
19/04/2024
NiTRo's M-CUBE Studio Levels Up Esports Productions with AJA Gear
Brie Clayton April 19, 2024
0 Comments
Esports' rapid rise to popularity can...
19/04/2024
Blackmagic Design Announces DaVinci Resolve 19
Brie Clayton April 19, 2024
0 Comments
Major update adds new DaVinci Neural Engine AI tools, new color ...
19/04/2024
Sony Pictures Entertainment is reportedly in talks with Apollo Global Management to make a bid to acquire Paramount which itself is currently discussing a merge...
19/04/2024
CBS Stations has launched CBS News California Investigates , with Julie Watts named regional CBS California correspondent. She will uncover and raise awarenes...
19/04/2024
MediaCo Holding, which owns radio stations WQHT (Hot 97) and WBLS in New York, said it acquired Estrella Media's Spanish-language video, audio and digital c...
19/04/2024
Netflix has ordered season five of fantasy drama The Witcher, which will be the final season. Production has recently begun on season four, and the two remainin...
19/04/2024
DirecTV Stream said it added eight more The CW affiliates to its lineup on Thursday....
19/04/2024
CBS has renewed Elsbeth for the 2024-2025 season. The drama, with Carrie Preston in the lead role, debuted February 29....
19/04/2024
With the Bears picking first, NBCUniversal Local's properties in Chicago plan extensive coverage of the NFL draft next week....
19/04/2024
PHILADELPHIA As government subsidies for broadband services come to an end, Comcast has launched NOW, a new product portfolio of lower-cost Internet, mobile and...
19/04/2024
DirecTV Stream has added more local CW stations for its streaming customers in Boston, Charlotte, Cincinnati, Cleveland, Hartford-New Haven Conn., Phoenix, San ...
19/04/2024
NEW YORK & LOS ANGELES MediaCo Holding Inc. has announced that it has acquired all of Estrella Media's network, content, digital, and commercial operations....
19/04/2024
SAN JOSE, Calif. Adobe has announced that the all-new Adobe Express mobile app is available to all users, bringing features powered by Adobe Firefly generative ...
19/04/2024
LOS GATOS, Calif. Netflix reported another blockbuster quarter by adding 9.33 million new subscribers in Q1, 2024 as global paid memberships hit 269.6 million, ...
19/04/2024
The Current State of the Industry and the Future Impact of AI
Hillary Lewis April 18, 2024
0 Comments
The Entertainment Industry: How did we get here ...
19/04/2024
After Effects Tutorial Text Blur Reveal
Andy Ford April 18, 2024
0 Comments
Here's a way to do a quick blur reveal for your text layer. Start by...
19/04/2024
Hollyland Mars M1 Enhanced Wireless Transmitter / Receiver
Colin Smith April 18, 2024
0 Comments
This tutorial shows the new wireless transmitter rece...
19/04/2024
Resolve Fusion: Writing Expressions with Lua
Simon Ubsdell April 18, 2024
0 Comments
The answer to the very frequently-asked question: what is the pro...
19/04/2024
B+C and Next TV have announced the winners of Best of Show Awards for the 2024 NAB Show. The awards were judged by a panel of industry experts at the convention...
19/04/2024
Cate Blanchett narrates the Netflix series Our Living World, which premieres April 17. The four-part series looks at the extraordinary creatures around the glob...
19/04/2024
Apple TV Plus has a spinoff of For All Mankind in the works. It is called Star City and details the cosmonauts, engineers and intelligence officers working behi...
19/04/2024
Jacquie Walker, longtime anchor at WIVB Buffalo, will step down from the anchor desk. She has spent over 40 years at WIVB and her last day as an anchor is May 2...
19/04/2024
Bob Hearts Abishola will premiere in broadcast syndication this fall on such station groups as Nexstar Media Group, Sinclair, Hearst Television, Tegna, E.W. Scr...
19/04/2024
Live With Kelly and Mark remains TV's top entertainment talk show as Kelly Ripa and her co-host and husband Mark Consuelo celebrate their one-year anniversa...
19/04/2024
Sean McLaughlin has been named VP of news for Graham Media Group. He had been senior VP of local news at E.W. Scripps. He will will be responsible for developi...
19/04/2024
Netflix has shared the first trailer from One Hundred Years of Solitude, a series based on the esteemed novel by Gabriel Garc a M rquez. The streamer is on boar...
19/04/2024
NAB 2024 in Review: West Hall - SportsTech Buzz From AWS, Appear, Ateme, The Swi...
19/04/2024
NAB 2024 Draws 61,000+ Attendees With More Than Half Attending the Show for the ...
19/04/2024
Back to All News
Fryshuset and Netflix Collaborate to Support Tomorrows Talent ...
19/04/2024
By Craig Anderton
Impact XT can launch clips, which is great for songwriting (see the blog post Songwriting with Impact XT). But few people realize that Impact...
18/04/2024
ORANGE COUNTY, Va., April 18, 2024 - L3Harris Technologies [NYSE:LHX] has entered into an agreement with Orange County, Virginia, to fund the expansion and mode...
18/04/2024
L3Harris Sky Warden multi-mission aircraft, equipped with the WESCAM MX-15 and WESCAM MX-20 EO/IR sensor systems, was selected for USSOCOMs Armed Overwatch prog...
18/04/2024
MELBOURNE, Fla., April 18, 2024 - L3Harris Technologies (NYSE:LHX) has received ...
18/04/2024
LAS VEGAS The National Association of Broadcasters is reporting that more than 61,000 people attended the 2024 NAB Show, where artificial intelligence and the c...
18/04/2024
Krisha Marcano Announced as Dean of Theater for Boston Conservatory at Berklee The theater educator, choreographer, and performer will join Boston Conservator...
18/04/2024
In August 2023, Dyn Media launched as a new broadcaster in European sports, aimed at giving sports beyond football the exposure and viewership they deserve. The...
18/04/2024
Hitomi Broadcast, market leader in audio/video alignment and latency tools based in the UK, has signed a partnership deal with global broadcast rental specialis...
18/04/2024
Vislink's DragonFly V - The Company's Smallest-Ever Transmitter Debuted ...
18/04/2024
MediaSilo to Offer Camera to Cloud with Atomos
Brie Clayton April 17, 2024
0 Comments
Integration between MediaSilo and Atomos Cloud Studio unlocking ...
Study Finds Local TV And Radio Industry Creates $1.17 Trillion In Economic Activity Annually Report finds 2.47 million jobs attributable to commercial broadcast industry WASHINGTON, D.C. - The local commercial broadcast television and radio industry generates $1.17 trillion of Gross Domestic Product (GDP) and 2.47 million jobs through direct and stimulative effect on the American economy, found a new study by Woods & Poole Economics with support from BIA Advisory Services. 
