| SIC Codes: | 4833 4841 |
| NAICS Codes: | 515120 515210 |
Companies in this industry broadcast television programs for free to the public and for cable subscribers. Major broadcast TV networks are ABC, CBS, FOX, and NBC (all based in the US), as well as Germany-based Bertelsmann, Japan's Nippon Hoso Kyokai, and the UK-based British Broadcasting Corporation (BBC); major US TV cable networks are Discovery Channel, ESPN, CNN, and TNT. Large non-network station groups in the US include Sinclair Broadcast Group, Hearst Television, and Raycom Media.
Business advertising, program popularity, and consumer demographics drive demand. The profitability of individual companies depends on advertising volume, programming mix, and efficient operations. Large companies have advantages of market dominance, often owning the only TV stations in a geographic area. Small companies can compete effectively with special programming that attracts a targeted audience. The industry is capital-intensive. For broadcast TV, revenue averages about $300,000 per worker; for cable TV, about $750,000. The industry is highly concentrated: the top 50 companies account for about 90 percent of revenue.
Major industry product lines are broadcasts (air time) and programming, production, and post-production services. Other sources of revenue include program rights, merchandise sales, and sales of website advertising space.
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