A new study by Woods & Poole Economics found that the local commercial broadcast television and radio industry generates $1.17 trillion of Gross Domestic Product and 2.47 million jobs through direct and stimulative effect on the American economy. NAB made the announcement Thursday.
“America’s local broadcast radio and TV stations play a unique role in every community across the country. They keep citizens informed with local news, viewers entertained with the most-watched programming, and families safe with lifeline emergency information,” said NAB President and CEO Gordon Smith. “But broadcasting plays a pivotal economic role as well, creating hundreds of thousands of well-paying jobs while helping hometown small businesses reach local consumers through advertising.”
The study found that direct employment from local commercial broadcasting, which includes jobs at local television and radio stations as well as in advertising and programming, is estimated at more than 318,000 jobs, generating more than $53 billion annually in economic impact. Broadcast television accounts for over 188,000 of these jobs, as well as more than $31 billion in GDP, while broadcast radio provides over 130,000 jobs that result in more than $21 billion in GDP.
Of the 318,000 jobs provided through direct employment, about one-third are tied to industries supporting local broadcasting.
The study also examined the ripple effect employment in local broadcast television and radio has on local economies through the consumption of goods and services by industry employees. Local broadcasting has a ripple effect on other industries of over $132 billion in GDP and more than 794,000 jobs, the report concluded.
You can read the full report HERE.