TV Broadcasting

Over the five years to 2022, the Television Broadcasting industry has grown. Although traditional TV viewership is on the decline, free over-the-air broadcasters have benefited from a trend of consumer cord cutting. Up until 2020, advertising expenditure has grown steadily, helping industry operators sell their airwaves for commercials at more-favorable rates. However, these growth trends have been offset somewhat by the onset of COVID-19 (coronavirus), which led to a decrease in total advertisement expenditure as well as halted production of new TV content in 2020.Despite pandemic restrictions in 2020, over the five years to 2022, the industry is expected to grow an annualized 2.6% to $72.8 billion, with revenue increasing 0.8% in 2022 alone. However, industry profit took a hit in 2019 and 2020, over the five years to 2022 is not expected to return to pre-pandemic levels.