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Radio Market to Grow by USD 8.48 Billion (2024-2028), Access to Latest Music and Live Updates Driving Revenue, AI Redefining Market Landscape – Technavio

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NEW YORK, Dec. 18, 2024 /PRNewswire/ — Report with market evolution powered by AI – The global radio market  size is estimated to grow by USD 8.48 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..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Type (Broadcast radio, Online mobile radio, and Satellite radio), Revenue (Advertising, Public license fee, and Subscription), and Geography (North America, Europe, APAC, South America, and Middle East and Africa)

Region Covered

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

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.

Key Market Trends Fueling Growth

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.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022) 

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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Huawei and The University of Hong Kong Build a Next-Generation Smart Campus, Accelerating Digital Transformation of Education

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HONG KONG, Dec. 19, 2024 /PRNewswire/ — On Dec. 12, Huawei and the University of Hong Kong (HKU) jointly held a launch ceremony for “The University of Hong Kong & Huawei Global Smart Campus Network Showcase.” This marks a new milestone in their collaboration on developing smarter campus network connectivity and infrastructures. Both parties are committed to creating a global showcase for smart campus network innovation, which not only accelerates HKU’s digital and intelligent transformation, but also serves as an excellent reference and inspiration for more universities worldwide.

Several key leaders from both parties attended the ceremony, including Flora Ng, Chief Information Officer and University Librarian at HKU; Wilson Kwok, Associate Director (CIO & Librarian Office) at HKU; Jason He, President of Huawei’s Global Enterprise Data Communication Marketing & Solution Sales Dept; Jim Bi, President of ICT Marketing & Solution Sales Dept of Huawei Hong Kong; Yury Yin, Vice President of Huawei’s Data Communications Product Line; Jackie Yu, Director of the Branding & Marketing Execution Dept, Huawei Enterprise Business.

“As a world-class university, HKU is committed to providing the best teaching and research environment for global academic talent and promoting the integration of education and technology,” said Flora Ng in her welcome speech. “This year marks the 112th anniversary of the HKU Libraries, which has become a vital platform for global academic research over a century. With the growing diversity of teaching needs and accelerating digital transformation, building a smart campus is critical for providing high-quality educational services.”

She continued: “Together with Huawei, we have built a high-quality 10 Gbps campus network powered by Wi-Fi 7, and deployed it in multiple scenarios, such as libraries, main building (Loke Yew Hall), classrooms, and HKU Station. These deployments ensure stable, smooth network connections for teaching applications in smart classrooms, libraries, study rooms, and auditoriums, laying a solid foundation for HKU’s smart campus.”

Ng added: “Moving forward, both parties will continue to work closely on smart networks and dive deeper into scenarios such as network security, intelligent Operations and Maintenance (O&M), and smart campus Internet of Things (IoT). Doing so will build a more secure, efficient, and intelligent education environment for the future, thereby driving the digital transformation of the education industry.”

“Currently, education is rapidly integrating with digital technology. Huawei fully leverages its unmatched expertise and strengths in the ICT field to help HKU innovate in scientific research, teaching affairs, and management processes,” said Jason He, President of Global Enterprise Data Communication Marketing & Solution Sales Dept, Huawei, in his speech. “Specifically, Huawei’s high-quality 10 Gbps campus network solution powered by Wi-Fi 7 brings to HKU three types of experience upgrade: wireless experience upgrade, application experience upgrade, and O&M experience upgrade. This solution meets various campus scenario-specific needs while ensuring data security, ultimately delivering a fresh-new network experience.”

Technological innovations meet diverse network needs, taking campus network experience to new levels.

With the advent of the digital era, online exams, live classes, lectures, and ceremonies pose higher performance requirements on modern campus networks. Especially in smart classroom scenarios, a key priority is to ensure always-optimal teaching experience in the classroom.

Huawei’s high-quality 10 Gbps campus network solution can meet these needs. By leveraging cutting-edge Wi-Fi 7 technology, this solution greatly increases network bandwidth needed for 4K/8K HD interactive teaching in smart classrooms. It also offers application assurance (which automatically identifies and prioritizes key teaching applications), application quality visibility, and other compelling capabilities to ensure superior experience with teaching applications.

Huawei’s latest Wi-Fi 7 APs deployed in the Loke Yew Hall (a historical landmark and also important activity center), libraries, and study rooms provide smooth network connectivity during centralized online exams and peak hours of celebration activities.

This cooperation is a key milestone and practice on the road to smarter education and smarter campus connectivity of the future. Said Jason He: “Looking forward, Huawei will continue our partnership with HKU to further create a high-quality educational environment, solidifying HKU’s leading position in global higher education. This cooperation can also set an excellent example for more Hong Kong universities to embark on their digital education journey.”

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/huawei-and-the-university-of-hong-kong-build-a-next-generation-smart-campus-accelerating-digital-transformation-of-education-302335643.html

SOURCE HUAWEI

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Hanesbrands Inc. Data Breach Settlement: Eligible Individuals Encouraged to File Claims

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Apex Class Action LLC, the Settlement Administrator for the Hanesbrands Inc. Data Breach Class Action Settlement, announces that individuals affected by the 2022 data breach may now file claims to receive benefits under the settlement agreement. The data breach, which occurred in May 2022, compromised sensitive personal information. Eligible class members are entitled to compensation, including reimbursement for out-of-pocket losses, credit monitoring services, Hanes Site Credits, or alternative cash payments. Affected individuals can visit, https://hanesdatabreachsettlement.com to check their eligibility and file a claim. The deadline to submit claims is January 3, 2025. For more information, visit www.HanesDataBreachSettlement.com or contact Apex Class Action LLC at 1 (800) 355-0700.

IRVINE, Calif., Dec. 18, 2024 /PRNewswire-PRWeb/ — A proposed Settlement has been reached with Hanesbrands Inc. (“HBI”) relating to a sophisticated ransomware attack on HBI discovered by the company in May 2022 (the “Data Incident”). The Data Incident impacted certain personal information (the “PII”), which varies by individual and may have included contact information, date of birth, financial account information, government-issued identification numbers such as drivers’ license numbers, passport information, and Social Security numbers, and other information related to benefits and employment including certain limited health information provided for employment-related purposes.

Who is Included? The Court decided that Class Members are all individuals whose PII was compromised in the ransomware attack against HBI, discovered by HBI on May 24, 2022.

What does the Settlement Provide? The Settlement allows Class Members to claim:

(A) reimbursement for documented out-of-pocket losses related to the Data Incident, AND

(B) to choose between one of three forms of additional relief:

(1) Two-years of credit and identity monitoring services (retail value $599), including up to $1,000,000 in identity theft insurance;

(2) Hanes site credit for a one-time use (within three years) to purchase products for sale on the www.hanes.com website up to the amount of $50 plus free shipping (valued at $6.99), for a total value of $56.99; OR

(3) an alternative cash payment of $35.

There is an aggregate cap of $100,000 on documented out-of-pocket expense reimbursements. There is no cap on the costs necessary to cover valid claims for Credit and Identity Monitoring, Hanes Store Credit, or Alternative Cash Payments. HBI has also agreed to undertake certain remedial measures and enhanced data security measures, and to pay attorneys’ fees of $475,000, costs not to exceed $45,000, and service awards to Plaintiffs in the amount of $1,600 each, if approved by the Court.

How To Get Benefits: You must complete and file a Claim Form online or by mail postmarked by January 3, 2025, including required documentation. You can file your claim online at www.HanesDataBreachSettlement.com.

You may also get a paper Claim Form at the website, or by calling the toll-free number, and submit by mail.

Your Other Options: If you do not want to be legally bound by the Settlement, you must exclude yourself by January 3, 2025. If you do not exclude yourself, you will release any claims you may have against HBI or Released Parties (as defined in the Settlement Agreement) related to the HBI Data Incident, as more fully described in the Settlement Agreement, available at the settlement website. If you do not exclude yourself, you may object to the Settlement by January 3, 2025. Information about how to object can also be found on the Settlement website.

The Final Approval Hearing: The Court has scheduled a hearing in this case (Toussaint, et al. v. HanesBrands, Inc., Case No. 1:22-cv-00879-LCB-LPA, U.S. District Court for the Middle District of North Carolina) for March 10, 2025, to consider: whether to approve the Settlement, Service Awards, attorneys’ fees and expenses, as well as any objections. You or your attorney may attend and ask to appear at the hearing, but you are not required to do so. The hearing may be held remotely, so please check the Settlement website for those details.

More Information: Complete information about your rights and options, as well as the Claim Form, the Long Form Notice, and Settlement Agreement are available at www.HanesDataBreachSettlement.com, or by calling toll free (800) 355-0700.

Media Contact

Sean Hartranft, Apex Class Action LLC, 1 800-355.0700, info@apexclassaction.com, apexclassaction.com

View original content:https://www.prweb.com/releases/hanesbrands-inc-data-breach-settlement-eligible-individuals-encouraged-to-file-claims-302335574.html

SOURCE Apex Class Action LLC

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Agoda Deepens Flight Business in India and Korea

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SINGAPORE, Dec. 19, 2024 /PRNewswire/ — Digital travel platform Agoda has reached an additional milestone in expanding their flight business in India and Korea through the International Air Transport Association’s (IATA) accreditation, enabled by the IATA GoGlobal Accreditation achieved by Priceline on behalf of Booking Holdings.

The IATA GoGlobal accreditation is a prestigious certification that underscores both Priceline and Agoda’s commitment to upholding the highest global standards in international travel management. This recognition not only bolsters Priceline and Agoda’s credibility in the travel sector but also simplifies collaboration with global airlines, enabling more seamless service delivery to travelers.

For digital travel platforms like Agoda, IATA accreditation offers a range of benefits, including enhanced trust with customers, access to exclusive travel products, and preferential pricing on airfare and insurance. It also opens doors to a central database of airline schedules, fares, and automated ticketing systems, leading to increased operational efficiency.

“Achieving the IATA certification for the Indian and Korean market as part of our Group’s GoGlobal accreditation is pivotal for us at Agoda,” stated Andrew Smith, Senior Vice President at Agoda. “This certification not only elevates our standing in the global flights arena but also aligns with our mission to help travelers see the world for less by enhancing our service offerings.”

The Group’s IATA GoGlobal accreditation enables Agoda to access a broad range of local content across several markets, including Australia, Hong Kong SAR, India, Indonesia, Japan, Korea, New Zealand, the Philippines, Singapore, Thailand, and Vietnam.

With a vast network of accommodations, flight options, and activities worldwide, Agoda remains committed to delivering value to its users. Supported by its global connections, Agoda is positioned to continue fostering industry advancements while maintaining a user-centric approach.

————————Ends—————————–

About Agoda: Agoda, a digital travel platform, helps anyone see the world for less with its great value deals on a global network of over 4.5M hotels and holiday properties worldwide, plus flights, activities, and more. Agoda.com and the Agoda mobile app are available in 39 languages and supported by 24/7 customer support. 

Headquartered in Singapore, Agoda is part of Booking Holdings (Nasdaq: BKNG) and employs more than 7,000 staff in 27 markets, dedicated to leveraging best-in-class technology to make travel even easier.

Logo – https://mma.prnewswire.com/media/2567836/Agoda.jpg

View original content:https://www.prnewswire.com/in/news-releases/agoda-deepens-flight-business-in-india-and-korea-302334941.html

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