The turnover in radio broadcasting in South Korea has experienced significant fluctuations in the past decade. Notably, it peaked in 2013 at 11.59 billion KRW, saw a dramatic drop in 2014 by -43.29%, and then had another high in 2015 with a 60.15% increase. Overall, the trend from 2013 to 2022 has been downward, evidenced by the declining values year-on-year and a gradual decrease in the CAGR.
From 2020 to 2022, turnover fell annually by -3.34%, -1.45%, and -5.33%, respectively. Forecasted data from 2023 onward predict continued declines, with a 5-year CAGR of -3.31% and a forecasted decrease to 4.83 billion KRW by 2028.
Future Trends to Watch: Future trends should monitor the impacts of digital transformation, changing listener habits, and the evolution of competition from online streaming services, which could further affect traditional radio broadcasting turnover.
