Edison Research’s latest Share of Ear report for Q3 2024 reaffirms AM/FM radio’s position as the leading ad-supported audio platform in the U.S., maintaining its dominance across all major demographics. The quarterly study, which surveys 4,000 Americans annually to track audio consumption habits, highlights trends in ad-supported audio, offering valuable insights for advertisers.
Key findings from the Q3 2024 report:
- AM/FM radio’s widespread appeal: Across demographic groups, AM/FM radio holds the top spot in ad-supported audio listening. Podcasts, while growing, maintain stronger shares among younger listeners.
- African American audience: AM/FM radio remains a dominant force, with podcast shares notably weaker compared to the general market.
- Hispanic audience: Podcasts have surged among Hispanic listeners, particularly those aged 18-34, where podcasts now rank as the number one ad-supported audio platform.
- In-car listening: AM/FM radio continues to reign supreme on the road, capturing an 86% share of ad-supported audio in vehicles. Among younger listeners aged 18-34, AM/FM still commands an 82% share.
- Streaming trends: Streaming accounts for 13% of AM/FM radio listening, a figure that has remained steady over the past three years. On smart speakers, AM/FM radio dominates, representing 50% of ad-supported listening.
- Spotify’s advertising challenges: While Spotify’s ad-free subscription model grows, its ad-supported audience share remains stagnant at just 2%. This limits the platform’s value for advertisers.
- Shifts in streaming music: Growth in streaming music audiences appears to be at the expense of owned music libraries, rather than impacting AM/FM radio’s share.
Edison Research’s findings emphasize the enduring value of AM/FM radio for reaching broad audiences, particularly in the car and among key demographic groups. The data also highlights the potential for podcast advertising among younger and Hispanic audiences, alongside challenges in leveraging ad-supported music platforms like Spotify.
The full analysis is available in today’s Cumulus Media | Westwood One Audio Active Group blog. To explore more, visit Westwood One’s blog.
You must be logged in to post a comment.