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The Radio Market is projected to grow by USD 8.47 Billion from 2024-2028, with AI-driven transformations enhancing access to music and live updates – Technavio

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NEW YORK, Sept. 24, 2024 /PRNewswire/ — Report with the AI impact on market trends – The global radio market size is estimated to grow by USD 8.47 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  3%  during the forecast period. Access to latest music and live updates is driving market growth, with a trend towards online radio services  However, availability of music streaming services  poses a challenge – Key market players include Audacy Inc., Australian Broadcasting Corp., BCE Inc., Beasley Broadcast Group Inc., Bertelsmann SE and Co. KGaA, Bonneville International, Cox Enterprises Inc., Cumulus Media Inc., Deseret Management Corp., EMMIS Communications Corp., Global Media Group Services Ltd., Heinrich Bauer Verlag KG, iHeartMedia Inc., Minnesota Public Radio, Paramount Global, SAGA COMMUNICATIONS INC., SALEM MEDIA GROUP INC., Sirius XM Holdings Inc., The Walt Disney Co., and Townsquare Media Inc..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report

Radio Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 3%

Market growth 2024-2028

USD 8479.2 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

2.91

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 30%

Key countries

US, UK, Germany, China, and Japan

Key companies profiled

Audacy Inc., Australian Broadcasting Corp., BCE Inc., Beasley Broadcast Group Inc., Bertelsmann SE and Co. KGaA, Bonneville International, Cox Enterprises Inc., Cumulus Media Inc., Deseret Management Corp., EMMIS Communications Corp., Global Media Group Services Ltd., Heinrich Bauer Verlag KG, iHeartMedia Inc., Minnesota Public Radio, Paramount Global, SAGA COMMUNICATIONS INC., SALEM MEDIA GROUP INC., Sirius XM Holdings Inc., The Walt Disney Co., and Townsquare Media Inc.

Market Driver

Online radio streaming is a popular way to access radio content, with many vendors offering their services over the Internet. Some radio channels have merged with streaming portals, providing listeners with the flexibility to choose between live radio and on-demand music. Vendors like Pandora and Apple Music offer both services. The growing Internet penetration and mobile Internet availability are driving the demand for Internet radio, positively impacting the global radio market during the forecast period. 

[Background music playing softly in the background] Narrator (enthusiastically): “Hello and welcome to this week’s edition of Radio Market! Today, we’re diving into the latest trends shaping the radio industry. First up, mobile radios are on the rise, with interoperability ensuring seamless communication for terrestrial users. Digital technology brings US hand-held devices, like walkie talkies, offering group chats, enhanced voice quality, longer battery life, and budget-friendly prices. Advancements include breakthroughs in frequency ranges, allowing for higher quality audio and priority access. In the commercial sector, Cryptomania radio and Triton Digital lead the way, while military modernization embraces digital capabilities for trunking, digital capabilities, group calling, and rapid voice transmission. In the transportation and utility sectors, smart radios offer superior range accessibility. IHeartMedia in Athens, Greece, is testing analog voice with two-way communications, while digital technology continues to revolutionize radio communications. Stay tuned for more Radio Market updates!”

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Market Challenges

Music streaming services, including Amazon Music, Google Play Music, and Deezer, have emerged as significant competitors in the radio industry. With growing popularity and competitive pricing, an increasing number of listeners are opting for online music streaming instead of traditional radio. Many music streaming applications are accessible for free online, enabling users to play their preferred tracks. The proliferation of mobile Internet penetration allows listeners to access and download music on their mobile devices, offering convenience and flexibility. Music streaming platforms provide an extensive range of music genres and tracks, posing a challenge to the global radio market in the forecast period.[Background Music Playing] Narrator (Voiceover): “Welcome listeners to Cryptomania Radio, where we bring you the latest business news. Today, we’re discussing the challenges facing the radio industry, particularly in the areas of public safety communications. With the rise of digital capabilities in radio, players like Triton Digital and iHeartMedia are investing heavily in smart radio solutions. Military modernization and the need for real-time communication in the face of crime, terrorism, and natural disasters, have pushed the demand for high-quality audio, priority access, and effective response systems. Traditional analog voice systems are being replaced with two-way communications, trunking, and group calling. New technologies like rapid voice and site trunking are becoming essential for public safety agencies. However, these demands come with challenges such as spectrum efficiency, harmonized spectrum, and security threats. Cross-agency coordination and information sharing are also major factors. Vendor offerings, research methodologies, and interface manufacturers are key players in this market. The micromarkets for these solutions show individual growth trends, with joint ventures and research and development driving innovation. Stay tuned for more insights on Cryptomania Radio.”

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Segment Overview 

This radio market report extensively covers market segmentation by

Type 1.1 Broadcast radio1.2 Online mobile radio1.3 Satellite radioRevenue 2.1 Advertising2.2 Public license fee2.3 SubscriptionGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Broadcast radio-  The Radio Market is a thriving business sector where broadcasters reach out to diverse audiences through various radio formats. Advertisers invest in radio advertising due to its wide reach and affordability. Radio stations generate revenue through sponsorships, commercials, and subscriptions. Effective programming and audience engagement strategies are essential for radio stations to retain listeners and attract new ones. Radio’s accessibility and convenience make it an attractive advertising medium for businesses aiming to expand their customer base.

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Research Analysis

[Opening jingle plays] [Host]: “Welcome to Cryptomania Radio, your daily source for the latest technology trends and innovations. Today, we’re diving into the world of modern radio communications. With the rise of digital capabilities, radio technology is evolving at an incredible pace. Triton Digital and other players are leading the charge towards smart radio, offering high-quality audio, priority access, and group calling features. But radio communications aren’t just for broadcasters anymore. Military modernization, crime prevention, and disaster response are all areas where two-way communications are essential. In Athens, Greece, analog voice systems are being replaced with digital trunking networks, providing more effective response to emergencies. New technologies like rapid voice and high-priority access are revolutionizing the way we communicate. From micromarkets to individual growth trends, research and development is key. Vendor offerings, interface manufacturers, and system integrators are all working together in joint ventures to push the boundaries of what’s possible. Stay tuned for more insights on this exciting topic.” [Closing jingle plays]

Market Research Overview

[Intro music plays] [Host]: “Welcome to Cryptomania Radio, your daily source for the latest trends and innovations in technology. Today, we’re diving into the world of radio communications, focusing on military modernization and the evolution of smart radios. [SFX: Military marching music] [Host]: “Gone are the days of analog voice and two-way communications. Military modernization has led to the adoption of digital capabilities, including group calling, priority access, and high-quality audio. But what about public safety and emergency response? Real-time communication is crucial during crime, terrorism, and natural disasters. [SFX: Siren sound] [Host]: “New technologies, such as site trunking and cross-agency coordination, are essential for effective response. Spectrum efficiency and harmonized spectrum are major factors in the micromarkets of individual growth trends. Vendor offerings from companies like Triton Digital and iHeartMedia are shaping the future of radio communications. [SFX: Radio static] [Host]: “From commercial applications in the transportation and utility sectors to advancements in handheld devices like walkie-talkies, digital technology is revolutionizing the way we communicate. Stay tuned for more on interoperability, seamless communication, and the future of radio communications. [SFX: Upbeat music]” [End music plays] [Host]: “That’s all for today on Cryptomania Radio. Join US tomorrow for another exciting episode. Until then, stay informed and stay connected.”

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeBroadcast RadioOnline Mobile RadioSatellite RadioRevenueAdvertisingPublic License FeeSubscriptionGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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SOLLUM TECHNOLOGIES APPOINTS JON ADAMS AS VICE PRESIDENT OF SALES FOR CANADA

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SOLLUM STRENGTHENS LEADERSHIP IN CANADA WITH THE APPOINTMENT OF JON ADAMS AS VP OF SALES

MONTRÉAL, Nov. 12, 2024 /PRNewswire/ – Sollum Technologies is proud to announce the appointment of Jon Adams as Vice President of Sales for Canada, effective immediately. Based in St Catharines, Ontario, Jon brings over 15 years of experience in the greenhouse industry, providing a strategic advantage for Sollum in a key agricultural region. His deep expertise in technical sales, market analysis, and product development will be instrumental in driving Sollum’s continued success and innovation in the North American market.

Previously Vice President at Havecon, Jon has built an impressive career managing sales cycles, evaluating competitive landscapes, and delivering high-quality greenhouse solutions to top accounts. His hands-on approach and passion for sustainability align perfectly with Sollum’s mission to provide a cutting-edge dynamic LED lighting solution that meets the unique needs of growers.

“We’re thrilled to welcome Jon to the team,” said Louis Brun, CEO of Sollum Technologies. “His track record in the greenhouse industry and his technical expertise make him the ideal leader to strengthen our presence in Canada. Jon’s leadership will be instrumental as we continue to provide an innovative lighting solution that empowers growers to achieve their goals.”

“I am excited to join Sollum Technologies and be a part of a team that is driving innovation in the greenhouse lighting industry,” said Jon Adams. “Sollum’s dynamic LED lighting solution offers unmatched flexibility and precision for growers, and I look forward to helping expand its impact across Canada, delivering the best results for our clients.”

Jon Adams’ appointment signals Sollum’s commitment to accelerating growth in the Canadian market while reinforcing its leadership in dynamic LED lighting for commercial greenhouses. His extensive background will be invaluable in expanding Sollum’s market share and driving the adoption of sustainable, high-performance lighting solution across the country.

For more information:

Jon Adams
Vice President of Sales, Canada
Cell: 1 (905) 321-6855
Email: jon@sollum.tech

About Sollum Technologies

Sollum Technologies designed the only 100% dynamic LED lighting solution that modulates the full spectrum of the Sun’s natural light to illuminate closed environments such as greenhouses, research centers and laboratories. Sollum’s award-winning, turnkey solution consists of internet of things, AI-powered light fixtures that are controlled by Sollum’s proprietary SUN as a Service® cloud platform. Sollum’s distinctive proposition is a fully scalable cleantech solution that evolves with business needs and multi-zone light management, with each zone benefiting from automatic dimming of an unlimited number of light recipes; this is why it provides unparalleled value in terms of energy savings and, additionally for greenhouse growers, increased productivity, and superior produce quality.

Founded in 2015, the company is headquartered in Montréal (Québec, Canada), where its design, development, and manufacturing activities are concentrated, and has a representative office in Leamington (Ontario, Canada). For more information, visit sollum.tech.

©2024 Sollum Technologies. All rights reserved. SUN as a Service, SUNaaS, LED by nature, SF-E2, SF-ONE, SF-MAX, SF-PRO, S.E.A.R.C.H. and the Sollum logo are registered or trademarks of Sollum Technologies

View original content to download multimedia:https://www.prnewswire.com/news-releases/sollum-technologies-appoints-jon-adams-as-vice-president-of-sales-for-canada-302301254.html

SOURCE Sollum Technologies

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Videotron’s Canada-International mobile plan now covers half the globe!

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MONTRÉAL, Nov. 12, 2024 /CNW/ – Videotron’s Canada-International wireless plan is going the extra mile by adding 28 more international destinations to its coverage area. This plan designed for travellers at home and abroad, which has yet to be equalled in Québec, now spans over half the globe with 100 destinations. True to its reputation for exceeding customer expectations, Videotron has also increased the data cap on the Canada-International plan to 45 GB.

As of today, in addition to Canada and previously included destinations such as France, England, Mexico, China, India and many others, subscribers to the Canada-International plan can now stay connected in Ecuador, Indonesia, Jordan, Malaysia, New Zealand, Pakistan, the Philippines, South Africa, Sri Lanka and more. With Videotron, travel has never been so worry-free!

Current Canada-International subscribers will have the new destinations automatically added to their plan at no extra charge. Get the full details here.

The Canada-International plan is backed by Videotron’s lifetime price guarantee: customers keep the same basic price, before discounts and credits, for as long as they keep their plan.

About Videotron

Videotron, a wholly owned subsidiary of Quebecor Media Inc., is an integrated communications company engaged in television, entertainment, Internet access, wireline telephone and mobile telephone services.  Videotron is the fourth strongest and competitive wireless service provider in Canada with, as of September 30, 2024, 4,050,700 subscriber connections to its mobile telephony services. Videotron is also a leader in new technologies with its Helix home entertainment and management platform, and is the Québec leader in high-speed Internet access. As of September 30, 2024, Videotron was serving 1,311,900 television customers, 1,734,300 subscribers to its Internet services as well as 627,500 to its wireline telephony service. Finally, Videotron has taken the coveted title of ”most respected telecommunications provider in Québec” for the 18th time since 2006, according to Léger’s 2024 Reputation survey.

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SOURCE Videotron Ltd.

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Creat a New Mode of “AI + Live Streaming”, Baijiayun Presents at GET2024 Education Technology Conference

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BEIJING, Nov. 12, 2024 /PRNewswire/ — Baijiayun Group Ltd (“Baijiayun” or the “Company”) (NASDAQ: RTC), a one-stop AI video solution provider, recently presented at GET2024 Education Technology Conference.

November 11, 2024, the GET2024 Education Technology Conference, hosted by “Jiemodui”, a well-known domestic vertical media in the education industry, grandly opened at the Beijing International Convention Center. With the theme of “New Qualitative Learning – Towards a Better Education Future”, focusing on the latest developments in education technology, and exploring the future trends and opportunities of education technology.

Baijiayun, as a leading one-stop AI video solution provider, was invited to participate in this conference with a dedicated booth and discuss the application of audio and video technology in vocational education with global education and training institutions.

Since its inception, Baijiayun has continuously focused in the field of education, cooperated with domestic educational institutions on multiple occations, accompanied by countless practitioners, witnessed the development and changes of educational technology, and has been the top tier of the “Ranking of Vocational Education Video Cloud Enterprises” for consecutive years. As the wave of artificial intelligence swept the world, Baijiayun promptly integrated cutting-edge technologies such as AI and ChatGPT to create a new mode of “AI + Live Streaming”, empowering multiple scenarios such as vocational education and opening up new paths for development with digital technology.

For the most popular demands for knowledge payment and live streaming and on demand broadcasting, Baijiayun closely combines live classroom teaching, SCRM, and online school management and supervision to create a flagship product “Duanxunbao”. This product helps knowledge monetizers manage online course offering and marketing conversion in one stop. Under the wave of AIGC technology, Baijiayun’s live streaming and on-demand broadcasting products promptly integrated AIGC technology and can now provide a mature AIGV video production platform, exclusive customization of AI digital humans, AI intelligent assistants, AI intelligent outlines, and AI learning companion functions. It also supports scenarios such as SCRM private domain marketing, CRM customer management, and video encryption, allowing a deep integration of cutting-edge AI technologies and education scenarios, and exploration of the deep potential of AI + education.

About Baijiayun Group Ltd 

Baijiayun is a one-stop AI video solution provider with core expertise in SaaS/PaaS solutions. Baijiayun is committed to delivering reliable, high-quality video experiences across devices and localities and has grown rapidly since its inception in 2017. Premised on its industry-leading video-centric technologies, Baijiayun offers a wealth of video-centric technology solutions, including Video SaaS/PaaS, Video Cloud and Software, and Video AI and System Solutions. Baijiayun caters to the evolving communications and collaboration needs of enterprises of all sizes and industries. For more information, please visit ir.baijiayun.com.

Safe Harbor Statement

This press release contains certain “forward-looking statements.” These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the parties’ perspectives and expectations, are forward-looking statements. The words “will,” “expect,” “believe,” “estimate,” “intend,” and “plan” and similar expressions indicate forward-looking statements.

Such forward-looking statements are inherently uncertain, and shareholders and other potential investors must recognize that actual results may differ materially from the expectations as a result of a variety of factors. Such forward-looking statements are based upon management’s current expectations and include known and unknown risks, uncertainties, and other factors, many of which are hard to predict or control, that may cause the actual results, performance, or plans to differ materially from any future results, performance or plans expressed or implied by such forward-looking statements. The forward-looking information provided herein represents the Company’s estimates as of the date of this press release, and subsequent events and developments may cause the Company’s estimates to change.

The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company’s estimates of its future financial performance as of any date subsequent to the date of this press release.

A further list and description of risks and uncertainties can be found in the documents the Company has filed or furnished or may file or furnish with the U.S. Securities and Exchange Commission, which you are encouraged to read. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements relate only to the date they were made, and the Company undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation.

For investor and media enquiries, please contact:

Company Contact:
Ms. Fangfei Liu 
Chief Financial Officer, Baijiayun Group Ltd
Phone: +86 25 8222 1596
Email: ir@baijiayun.com

View original content:https://www.prnewswire.com/news-releases/creat-a-new-mode-of-ai–live-streaming-baijiayun-presents-at-get2024-education-technology-conference-302302340.html

SOURCE Baijiayun Group Ltd

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