Broadcast media keeps pushing the economy forward, generating huge GDP numbers and job support. It’s vital for communities, no question.
The National Association of Broadcasters (NAB) recently released a report highlighting the economic significance of local television and radio stations across the United States. This comprehensive study, conducted by Woods & Poole Economics with the backing of BIA Advisory Services, reveals that local broadcasting contributes a staggering $1.19 trillion to the Gross Domestic Product (GDP) and supports approximately 2.46 million jobs nationwide. At a time when Americans are grappling with rising costs and limited access to reliable information, the NAB emphasizes that broadcast media remains a crucial source of news, emergency updates, and community connection.
NAB President and CEO Curtis LeGeyt pointed out that no other industry offers as much for free to Americans, contrasting the efforts of local broadcasters with those of major technology companies that often charge for their services. LeGeyt stated, �Local stations provide trusted journalism, life-saving emergency alerts, and the sports and entertainment that bring our communities together.� The report underscores the pivotal role of broadcast media not just in keeping citizens informed, but also in bolstering the economy.
The study indicates that local broadcasters directly employ nearly 311,000 people. However, the NAB’s push for greater industry consolidation raises concerns about potential job losses due to resource combinations and redundancies. The economic impact of over-the-air broadcasting extends beyond the media sector, with an additional $134 billion in GDP and nearly 776,000 jobs created in related fields such as construction and retail.
Moreover, the NAB stresses that local broadcast media serves as a powerful advertising platform for small businesses. According to the Woods & Poole report, advertising on local television and radio generates more than $997 billion in GDP and sustains over 1.37 million jobs. This robust reach allows local businesses to effectively connect with customers, grow their operations, and fuel local economies.
LeGeyt concluded by emphasizing the mission of broadcasting as more than just a business model. He highlighted its civic importance, stating, �This industry stands alone in its mission to inform, protect, and uplift every community in America, regardless of ZIP code or income level.�