Radio Broadcasting in Canada - Market Research Report (2013-2028)
New York, United States
Last Updated: October 2023
NAICS 51511CARevenue
$1.4bn
Past 5-Year Growth
Profit
$XX.Xm
Employees
9,108
Businesses
601
Wages
$XXX.Xm
Radio Broadcasting in Canada industry analysis
Radio broadcasters in Canada have been at the mercy of the constantly evolving entertainment space for at least a decade. In particular, new methods of music consumption, like on-demand streaming services, have been the single greatest threat to these broadcasters. While Canadian radio broadcasters have combated this competition by focusing more on value-added talk show formats, advertising dollars have consistently been routed to the digital and TV entertainment realms, hurting the primary avenue of revenue generation. Disruptions stemming from COVID-19 in 2020 also weighed on advertising expenditure and accelerated a dip in industry revenue. As a result, Radio Broadcasters' revenue is projected to drop at a CAGR of 9.3% to $1.4 billion in 2024, dipping 6.7% in 2024 alone as advertising funding is gradually redirected towards music streaming services and podcasts. Canadian radio broadcasters' profit is also poised to slump as reduced industry revenue and relatively steady fixed costs negatively impact financial performance.
Trends and Insights
- COVID-19 has substantially impacted Canadian radio broadcasters. Weak economic conditions, volatile business confidence and consumer sentiment have limited spending and constrained demand from advertisers, slashing revenue.
- Music dominates Canadian radio, but its revenue share is predicted to lag, with sports, news and talk programs rising, especially among older audiences. Although niche programming is small in listenership, it holds stable expansion potential because of unique content and underserved markets.
- Most of Canada's broadcasting sector is located in the provinces of Ontario, Quebec, British Columbia and Alberta. Ontario is expected to hold a considerable share of establishments mainly because of its high population density.
- Canadian radio stations face internal and external competition. Internally, they compete over market share, demographic targeting, and innovative technology uses. Externally, trends towards the use of portable music devices and streaming services, particularly in cars, pose a challenge.
Industry Overview
Market size and recent performance (2013-2028)
Industry revenue has declined at a CAGR of 9.3 % over the past five years, to reach an estimated $1.4bn in 2023.
Trends and Insights
COVID-19 and associated troubles pulled down revenue in the advertising industry
- Diverse economic impacts sprouting from COVID-19 have initiated a sizable slump in Canadian radio broadcasters' revenue. The pandemic exacerbated the influence of external competitors over the industry, facilitating the popularity of music streaming applications.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to decline over the next five years.
Trends and Insights
Large radio networks are expansively acquiring independent stations
- Large radio networks acquiring independent stations is becoming even more prevalent. This common occurrence reflects the coveted niche markets these independent stations provide access to. These markets typically resonate with a specific audience that the more extensive networks aim to tap into.
Biggest companies in the Radio Broadcasting in Canada
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Bell Media Inc. | 203.8 | 1.5 | 0.7 | |
Rogers Media Inc. | 121.2 | -4.0 | -3.3 | |
Cogeco Media Inc. | 77.8 | N/A | N/A |
To view the market share and analysis for all 6 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Adult contemporary, Modern rock/country and Mainstream/Top 40. Adult contemporary is the largest segment of the Radio Broadcasting in Canada.
Trends and Insights
Music broadcasting leads the airwaves
- Historically, music programs have dominated Canadian radio, and this continues to hold true as the segment constitutes over half of the total listenership. Common popular genres include modern rock, country, adult contemporary and classic rock.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- TV Broadcasting in Canada
- Cable Networks in Canada
- Satellite TV Providers in Canada
Complementors
- Music Publishing in Canada
- Advertising Agencies in Canada
International industries
- Radio Broadcasting in the US
- Internet Radio Broadcasting in the US
- Radio Broadcasting in Australia
- Radio Broadcasting in the UK
- TV & Radio Broadcasting in China
Table of Contents
About this industry
Industry definition
The Radio Broadcasting industry in Canada consists of broadcasting stations, networks and syndicates that transmit programming through AM, FM and satellite radio channels. The industry does not include operators that broadcast content exclusively through the internet.
What's included in this industry?
Operating radio stationsOperating radio networksOperating radio syndicatesTransmitting programming to the public, affiliates or subscribersProducing entertainment, news, talk, business or religious broadcast media contentCompanies
Bell Media Inc.Rogers Media Inc.Cogeco Media Inc.Purchase this report to view all 6 major companies in this industry.
Related Terms
STINGERHOT TALKSHOCK JOCKMORNING ZOOIndustry Code
NAICS 515110 - Radio Broadcasting in Canada
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 has substantially impacted Canadian radio broadcasters. Weak economic conditions, volatile business confidence and consumer sentiment have limited spending and const...
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
Music dominates Canadian radio, but its revenue share is predicted to lag, with sports, news and talk programs rising, especially among older audiences. Although niche progra...
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
Most of Canada's broadcasting sector is located in the provinces of Ontario, Quebec, British Columbia and Alberta. Ontario is expected to hold a considerable share of establi...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each province
- Share of population compared to establishments in each region in 2023
Tables
- Number and share of establishments in each province in 2023
- Number and share of revenue each province accounts for in 2023
- Number and share of wages each province accounts for in 2023
- Number and share of employees in each province in 2023
Detailed analysis
- Geographic spread of the industry across North America, 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
Canadian radio stations face internal and external competition. Internally, they compete over market share, demographic targeting, and innovative technology uses. Externally,...
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 top five Canadian radio broadcasters will dominate more than half of the industry's earnings. The emphasis on content and storytelling plays a significant role in these c...
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 Bell Media Inc.'s performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Rogers Media Inc.'s performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Cogeco Media Inc.'s performance by revenue, market share and profit margin from 2017 through 2023
- Overview of revenue, market share and profit margin trend for 3 additional companies
Detailed analysis
- Description and key data for Bell Media Inc., and factors influencing its performance in the industry
- Description and key data for Rogers Media Inc., and factors influencing its performance in the industry
- Description and key data for Cogeco Media Inc., and factors influencing its performance in the industry
- Description, key data and performance trends for 3 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
The Canadian Radio-television and Telecommunications Commission (CRTC) regulates content and technological standards for internet, phone and broadcasting services. It enforce...
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
Canadian radio broadcasters are enduring a dip in profit because of reduced advertising spending exacerbated by COVID-19 and boosted competition from digital platforms. Swell...
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 (2016-2021)
- Coverage Ratios (2016-2021)
- Leverage Ratios (2016-2021)
- Operating Ratios (2016-2021)
- Assets (2016-2021)
- Liabilities (2016-2021)
- 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 Canada include:
- Statistics Canada
- Industry Canada
- Canadian Business Patterns
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 industry in Canada in 2024?
The market size of the Radio Broadcasting industry in Canada is $1.4bn in 2024.
How many businesses are there in the Radio Broadcasting in Canada industry in 2023?
There are 601 businesses in the Radio Broadcasting industry in Canada, which has declined at a CAGR of 1.6 % between 2018 and 2023.
Has the Radio Broadcasting industry in Canada grown or declined over the past 5 years?
The market size of the Radio Broadcasting industry in Canada has been declining at a CAGR of 9.3 % between 2018 and 2023.
What is the forecast growth of the Radio Broadcasting industry in Canada over the next 5 years?
Over the next five years, the Radio Broadcasting industry in Canada is expected to decline.
What are the biggest companies in the Radio Broadcasting market in Canada?
The biggest companies operating in the Radio Broadcasting market in Canada are Bell Media Inc., Rogers Media Inc. and Cogeco Media Inc.
What does the Radio Broadcasting in Canada include?
Operating radio stations and Operating radio networks are part of the Radio Broadcasting industry.
Which companies have the highest market share in the Radio Broadcasting in Canada?
The company holding the most market share in Canada is Bell Media Inc..
How competitive is the Radio Broadcasting industry in Canada?
The level of competition is moderate and increasing in the Radio Broadcasting industry in Canada.
