A new analysis by Katz Radio Group of MRI-Simmons data reveals that affluent consumers — traditionally targeted through print and television — are heavily engaged with radio, presenting a significant opportunity for advertisers. Despite a long-standing focus on luxury magazines, financial television networks, and other high-end media, marketers may be missing a powerful way to connect with high-net-worth individuals.
The study defines affluence by net worth rather than annual household income, accounting for assets such as financial accounts, home value, and possessions. With the average net worth of U.S. adults standing at $418,000, Katz identified the top media choices of wealthy consumers, including their preferred radio formats.
Among the top 50 commercial media properties ranked by consumer net worth, several radio formats outperformed well-established prestige media outlets. Classical and All News stations boasted higher average net worths than any measured TV network, magazine, or newspaper. News/Talk and Adult Album Alternative (AAA) formats ranked ahead of respected brands like The Atlantic, Golf Channel, and Fox Business Network. Even Alternative music stations attracted a wealthier audience than The New Yorker, while Soft AC listeners surpassed The Economist readers in net worth.
Beyond simply reaching high-net-worth individuals, radio formats also capture their substantial spending habits. Katz’s analysis found that affluent radio listeners tend to spend more than the average U.S. adult across multiple categories. High-net-worth formats over-index in spending on travel, technology, fine dining, jewelry, and luxury goods. Domestic travel spending is particularly strong among All News, Classical, and Sports radio audiences. These listeners also prioritize local expenditures, frequently spending on dining, automotive services, property maintenance, veterinary care, and florists.
For advertisers, these findings highlight the untapped potential of radio as a premium advertising channel. While high-net-worth audiences engage with classical and news formats, affluents are also tuning into a broad range of AM/FM stations, bringing their substantial purchasing power with them. Click here to explore an updated analysis from Katz Radio Insights & Analytics team.
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