Internet Radio Broadcasting Market Far From Witnessing Torrent of Revenue as On-demand Music Streaming Threatens Growth

Published On : 17 Oct 2016

The internet radio market is expected to be dealt a blow by the growing consumer demand for on-demand music streaming, a new report featured on forecasts. The report, titled, “Global Internet Radios Market Research Report 2016” analyzes the state of the market and its ancillary industries in detail. According to the study, the Internet radio market is currently in a phase of declining revenues after having posted healthy growth since the beginning of the current decade. The factor that primarily caused an upswing in revenues in the global internet radios market was the penetration of the internet in developing countries and a drastic increase in the number of smartphone and feature phone users. This gave consumers instant and convenient access to internet radio stations. 

While this marked a paradigm shift in the radio industry as a whole, the aggressive growth of the internet radios market is expected to mellow in the long term as music streaming takes precedence among consumers. The report forecasts that by the end of 2016, a marginal decline in the growth rate of the internet radios market is expected. 

However, it’s not an entirely bleak future for the global internet radios market, the report states. Leading technology companies entering the music streaming business will continue to keep radio channels a part of their product mix. This will ensure that revenue growth for the global internet radios market will not altogether be stalled. 

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For the purpose of this study, the report conducts a detailed analysis of the global internet radio market by region, by product type, and by application. The geographical segments that have been studied in the report include, Korea, Japan, China, Europe, and Taiwan. In addition to these segments, the report also studies markets that are emerging as strong contenders at the global level. 

According to the report, the use of internet radio for advertising and branding purposes will aid revenue growth in the global internet radio market. Advertising revenues in the internet radio market have been progressively rising. This trend is expected to bode well for the growth of the global market in the near future as companies are setting aside a fraction of their advertising budgets for internet radio channels as well. The report predicts that time spent listening to internet radio will surpass the same for traditional radio. 

Companies that have been profiled in the report include Grace Digital, VicTsing, Aluratek
Sangean, Divoom, Sungale, and Ocean Digital. Each of these companies has been profiled to estimate their annual revenues from their internet radio business, recent product launches, and innovative strategies employed. 

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