NAB Study: Local Radio Drives $437 Billion In Economic Activity.

From protecting AM radio in vehicles to opposing a performance royalty, the National Association of Broadcasters has long pressed its policy case in Washington. Now, it is reinforcing those arguments with economics, releasing a new study detailing the impact of local radio and television on U.S. economic activity.

Conducted by Woods & Poole Economics, Inc. with support from BIA Advisory Services, the study finds local broadcasting fuels $1.19 trillion in Gross Domestic Product and supports 2.46 million jobs nationwide.

“No other industry gives more to Americans for free,” NAB President/CEO Curtis LeGeyt says. “This report reinforces that broadcasters are not only essential to our democracy and daily lives, but to the strength of our economy, as well.”

The report shows local commercial radio remains a major economic engine, generating an estimated $437 billion in annual economic output and supporting more than 909,000 jobs nationwide both directly in the business and in aligned businesses with an economic ripple effect extending deep into other sectors — from construction to retail.

Of the $437 billion attributed to radio, roughly $19.8 billion comes from direct economic activity, including station operations, programming, and advertising jobs. Another $47.8 billion flows through supplier industries such as telecommunications, utilities, manufacturing, and transportation. The largest share — nearly $370 billion — comes from radio’s stimulative effect on the broader economy, driven largely by advertising that delivers price and product information to consumers at no cost.

That advertising role, Woods & Poole notes, is radio’s most powerful economic contribution. By efficiently distributing marketplace information, radio advertising boosts consumer spending efficiency and pushes competing businesses to innovate and adjust pricing, creating a ripple effect that supports more than 506,000 additional jobs nationwide.

At the state level, radio’s impact reveals the geographic breadth of its influence. California leads all states with more than $51.4 billion in radio-driven economic impact and over 100,000 radio-related jobs.

In Florida, radio supports an estimated $26.2 billion in economic output with nearly 56,000 jobs. New York follows with roughly $31.5 billion in radio-related economic output and more than 61,000 jobs, highlighting radio’s continued strength in major urban and suburban markets.

Texas registers around $38.9 billion in economic activity from radio and more than 78,000 jobs, driven by the state’s large population and diverse media landscape.

Illinois sees an estimated $19.7 billion in radio’s economic contribution, supporting about 42,000 jobs, while Ohio’s radio sector accounts for nearly $20.9 billion in output and roughly 44,000 employment positions.

Mid-sized states also show substantial impacts: Georgia ($17.4 billion), Pennsylvania ($24.1 billion), North Carolina ($21.8 billion), and Michigan ($18.6 billion) each demonstrate radio’s contribution to local commerce and workforce support.

Smaller states, though lower in absolute dollars, show strong per-capita influence — reflecting radio’s deep roots in community economies from Arizona to Massachusetts, Washington, and Colorado. Across these states, Woods & Poole points to radio’s outsized local multiplier effect — particularly its advertising-driven stimulation of consumer spending. With fewer competing local media options, radio plays a disproportionate role in driving consumer spending, supporting small businesses, and sustaining jobs well beyond station payrolls.

Looking ahead, Woods & Poole projects stable radio revenue through at least 2028, concluding radio’s local economic contributions are likely to grow in step with broader economic expansion.

“Broadcasting is more than a business model; it is a civic model,” says LeGeyt. “This industry stands alone in its mission to inform, protect and uplift every community in America, regardless of ZIP code or income level.”

Download the study HERE.