It certainly would.
And here is the final say from Envato on this matter:
Regardless of your clients arguments, if they are broadcasting to a potential reach of 10 million people then they will need the 10 million license, even if less than 1 million viewers will watch the broadcast.
Hi guys, just an update on this for those interested.
After a month of waiting for the channelās legal service in vain, I hit out at the buyer once more. Basically, I said I did not appreciate being led on and ignored and I reminded them that broadcasting copyrighted material without it being properly licensed was a pretty serious offense for a TV channel. I thus hinted at possible legal consequences if still no reaction on their part.
Didnāt get any response. But today, they did buy the correct license! So Iām quite happy about that 
I sure would have preferred not having been let down by Envato and things not to go down this way, but Iām glad I could see this through and make it right.
On the other hand though, Iām pretty sure the buyer is pissed at me and doesnāt want anything to do with me. Basically, I lost a client for good. And for $82 you could say it was petty of me and not worth it. So, I donāt really knowā¦
Some buyers insert a video directly into the video with a watermark and nothing after 4:58.
Donāt worry, this market generally operates on an individual track basis, so that there is no customer loyalty to speak of. So most likely you did not lose anything, but at least gained a few bucks and experience.
Cheers
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On the other hand though, Iām pretty sure the buyer is pissed at me and doesnāt want anything to do with me. Basically, I lost a client for good. And for $82 you could say it was petty of me and not worth it. So, I donāt really knowā¦
Nah, people from video industry actually are thrilled about the copyright violation from their side. So he is more like āDear God let him not sue me!ā
I had not seen this thread before. I always believed that it meant an estimated or real audience, not a potential audience. Most of the licenses I sell for broadacast are up to one million. Reading what you comment the majority should have been up to 10 million, or even more than 10 million.
It can certainly be misunderstood. Especially because how PRO works is based on actual audience (they pay differently at different hours), because what always matters is the actual audience, not the potential audience. If thatās how you say it, I think they would have to explain it more clearly because I think most customers do not understand it like this.
Thanks for bringing this subject to light.
Thanks FirstNote! Youāre right, no real loss here. But I wouldāve preferred not to have this sort of interaction with a buyer. This could have gone another smoother way, if the platform had dealt with it. But yeah, few bucks and experienceā¦
Lol, maybe so 
But Iād rather not instill fears into my buyers. If Envato had played its part, I wouldnāt have had to come out as a mean and ruthless author.
Exactly! According to the license terms, most broadcast licenses should be the top one, or at least the 10 million one.
It clearly says potential audience in the terms and they explicitly liken the audience size to broadcast DMA. But itās true that DMA may not mean anything to anyone outside the US and the potential is āpotentiallyā open to interpretations.
Support told me they were working on global license terms overhaul and would make things clearer in the future (but donāt know when). But until then, youāre right it certainly looks like buyers do not understand it this way. Because of this ambiguity, we are losing a lot of money, as we should be getting those top licenses.
Iāve sold a lot of 10 million broadcast licences to China! Hahaā¦ Well, the potential there is ā¦