Radio Broadcasting in the UK - Market Research Report (2013-2028)
London, United Kingdom
Last Updated: December 2023
SIC J60.100Revenue
£1.4bn
Past 5-Year Growth
Profit
£XXX.Xm
Employees
5,842
Businesses
713
Wages
£XXX.Xm
Radio Broadcasting in the UK industry analysis
Over the five years through 2023-24, UK radio broadcasting revenue is forecast to contract at a compound annual rate of 5.2% to £1.4 billion. The BBC dominates the market with an array of national and regional stations, funded by TV license fees. License fees have been frozen at £159 since 2022, due to be raised to £169.50 in April 2024. Mergers that were finalised prior to the COVID-19 outbreak raised revenue due to Commercial radios have invested in new interactive software to differentiate themselves from on-demand services. The amplified investment led to commercial radios overtaking the BBC in listeners for the first time in Q2 2023.
Trends and Insights
- COVID-19 pushed radio broadcasters’ revenue down. A reliance on advertising revenue means the drop in business confidence and spending in the year cut into income for commercial broadcasters.
- There’s a clear skew towards older listeners. Younger people are more likely to turn to music streaming or podcasts for listening. Older people who aren’t as familiar with technology tend to keep tuning into radio stations.
- Access to a wide audience and talented workers is key. New ways of broadcasting mean companies don’t necessarily have to be located near their audience, so they instead gravitate towards areas with skilled staff.
- External competition shoots up. The emergence of podcast – which only continue to grow in popularity – and sustained competition from music streaming services like Spotify consistently eat into radio listening hours.
Industry Overview
Market size and recent performance (2013-2028)
Industry revenue has declined at a CAGR of 5.2 % over the past five years, to reach an estimated £1.4bn in 2023.
Trends and Insights
Commercial radio broadcasters revenue have overtaken the BBC’s majority share for the first time
- Private radio providers hold over 50% of the radio market share in 2023-24, overtaking the BBC.
- Additional trends and insights available with purchase
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
License fee hikes will accrue revenue for the BBC, but market share will falter long-term
- BBC Radio licenses, initially frozen in 2022, are set to rise in 2024 to match inflation. These fees serve as vital funding for BBC Radio and will contribute to the BBC’s market share growth.
Biggest companies in the Radio Broadcasting in the UK
| Company | Market Share (%)
2024 | Revenue (£m)
2024 |
|---|---|---|
British Broadcasting Corporation | 831.5 | |
Global Media & Entertainment Ltd | 342.2 | |
Bauer Radio Ltd | 148.2 |
To view the market share and analysis for all 4 top companies in this industry, view purchase options.
Products & Services Segmentation
Radio Broadcasting in the UK
Products & Services
Industry revenue is measured across several distinct product and services lines, including Analogue broadcasting, Digital audio broadcasting and Online broadcasting. Analogue broadcasting is the largest segment of the Radio Broadcasting in the UK.
Trends and Insights
Digital audio broadcasting (DAB) provides better audio quality but modestly declines among mounting online usage
- Digital audio broadcasting transmits audio content digitally, enhancing sound quality and offering additional data services, outperforming traditional analogue systems.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Television Programming & Broadcasting in the UK
Complementors
- Wired Telecommunications Carriers in the UK
- Satellite Telecommunications Activities in the UK
- Consumer Electronics Manufacturing in the UK
International industries
- Radio Broadcasting in the US
- Internet Radio Broadcasting in the US
- Radio Broadcasting in Canada
- Radio Broadcasting in Australia
- Radio Broadcasting in Germany
Table of Contents
About this industry
Industry definition
Players in this industry broadcast and transmit audio signals through radio broadcasting studios to the public. The industry operates radio networks involved in assembling and transmitting aural programming to affiliates or subscribers through over-the-air broadcasts, cable or satellite. Additionally, this industry involves radio broadcasting activities conducted over the Internet.
What's included in this industry?
Analogue broadcastingDigital audio broadcastingOnline broadcastingDigital TV broadcastingCompanies
British Broadcasting CorporationGlobal Media & Entertainment LtdBauer Radio LtdPurchase this report to view all 4 major companies in this industry.
Related Terms
ANALOGUE BROADCASTINGDIGITAL BROADCASTINGDAB+Industry Code
SIC 60.10 - Radio Broadcasting in the UK
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
COVID-19 pushed radio broadcasters’ revenue down. A reliance on advertising revenue means the drop in business confidence and spending in the year cut into income for commerc...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2013-2022) and forecast (2023-2028)
- Employees, including historical (2013-2022) and forecast (2023-2028)
- Businesses, including historical (2013-2022) and forecast (2023-2028)
- Profit, including historical (2013-2023)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
There’s a clear skew towards older listeners. Younger people are more likely to turn to music streaming or podcasts for listening. Older people who aren’t as familiar with te...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2023
- Product innovation level
Charts
- Products & services segmentation in 2023
- Major market segmentation in 2023
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Access to a wide audience and talented workers is key. New ways of broadcasting mean companies don’t necessarily have to be located near their audience, so they instead gravi...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2023
Tables
- Number and share of establishments in each region in 2023
- Number and share of revenue each region accounts for in 2023
- Number and share of wages each region accounts for in 2023
- Number and share of employees in each region in 2023
Detailed analysis
- Geographic spread of the industry across Europe, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
External competition shoots up. The emergence of podcast – which only continue to grow in popularity – and sustained competition from music streaming services like Spotify co...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2018-2023
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
The BBC dominates the market, skewing industry figures. For instance, doesn’t operate with the aim of generating high profit, holding the average industry margin down. Other ...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2019 through 2023
- Major companies in the industry, including market share, revenue, profit and profit margin in 2023
- Overview of British Broadcasting Corporation's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Global Media & Entertainment Ltd's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Bauer Radio Ltd's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of revenue, market share and profit margin trend for one additional company
Detailed analysis
- Description and key data for British Broadcasting Corporation, and factors influencing its performance in the industry
- Description and key data for Global Media & Entertainment Ltd, and factors influencing its performance in the industry
- Description and key data for Bauer Radio Ltd, and factors influencing its performance in the industry
- Description, key data and performance trends for one additional company
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
The number of cars on UK roads drives listening hours. Most people listen to the radio when they’re driving – especially on commutes. Vehicle numbers are on the up, though ho...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2013-2028)
- Assistance historical data and forecast (2013-2028)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Cost-saving strategies eat into broadcasters’ profitability. Many of the biggest broadcasters have invested in ways to cut costs, as well as their content. The BBC has also u...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Investment vs. share of economy
Data tables
- Liquidity Ratios (2017-2021)
- Coverage Ratios (2017-2021)
- Leverage Ratios (2017-2021)
- Operating Ratios (2017-2021)
- Assets (2017-2021)
- Liabilities (2017-2021)
- Cash Flow & Debt Service Ratios (2013-2028)
- Revenue per Employee (2013-2028)
- Revenue per Enterprise (2013-2028)
- Employees per Establishment (2013-2028)
- Employees per Enterprise (2013-2028)
- Average Wage (2013-2028)
- Wages/Revenue (2013-2028)
- Establishments per Enterprise (2013-2028)
- IVA/Revenue (2013-2028)
- Imports/Demand (2013-2028)
- Exports/Revenue (2013-2028)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2013-2028)
- IVA (2013-2028)
- Establishments (2013-2028)
- Enterprises (2013-2028)
- Employment (2013-2028)
- Exports (2013-2028)
- Imports (2013-2028)
- Wages (2013-2028)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the UK include:
- Office for National Statistics
- Office for Budget Responsibility
- Bank of England
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Radio Broadcasting in the UK industry in United Kingdom in 2024?
The market size of the Radio Broadcasting in the UK industry in United Kingdom is £1.4bn in 2024.
How many businesses are there in the Radio Broadcasting in the UK industry in 2023?
There are 713 businesses in the Radio Broadcasting in the UK industry in United Kingdom, which has declined at a CAGR of 2.6 % between 2018 and 2023.
Has the Radio Broadcasting in the UK industry in United Kingdom grown or declined over the past 5 years?
The market size of the Radio Broadcasting in the UK industry in United Kingdom has been declining at a CAGR of 5.2 % between 2018 and 2023.
What is the forecast growth of the Radio Broadcasting in the UK industry in United Kingdom over the next 5 years?
Over the next five years, the Radio Broadcasting in the UK industry in United Kingdom is expected to grow.
What are the biggest companies in the Radio Broadcasting in the UK market in United Kingdom?
The biggest companies operating in the Radio Broadcasting market in United Kingdom are British Broadcasting Corporation, Global Media & Entertainment Ltd and Bauer Radio Ltd
What does the Radio Broadcasting in the UK in United Kingdom include?
Analogue broadcasting and Digital audio broadcasting are part of the Radio Broadcasting in the UK industry.
Which companies have the highest market share in the Radio Broadcasting in the UK in United Kingdom?
The company holding the most market share in United Kingdom is British Broadcasting Corporation.
How competitive is the Radio Broadcasting in the UK industry in United Kingdom?
The level of competition is moderate and increasing in the Radio Broadcasting in the UK industry in United Kingdom.
