Just released: State of Audio - 11 Moments That Matter

July 28, 2022

"Cancel My Subscription." Audio Wins.

By Idil Cakim, SVP, Research & Insights, Audacy

In the 25 years since Netflix debuted, streaming services have exploded, offering audiences a mind-boggling variety of options, from HBO Max to Disney+ to Peacock and more. However, streaming services are on choppy waters – one in three streaming customers are switching, or even canceling, their subscriptions. In TransUnion’s Consumer Pulse study, they called it the “subscription squeeze.” And the trend holds: The most recent Audacy consumer study shows that in the next three months 29% of video service subscribers are planning to cancel or scale back their service. And 22% of digital Audio pureplay subscribers are planning to cancel or scale back these services1.

-29%
Video Subscribers
-22%
Digital Audio Pureplay Subscribers

Ad-supported media platforms are not experiencing the same challenges. Radio garners the lion’s share of time spent with ad-supported media – certainly for substantially more time than TV.

Adults spend 63 percent of time with Radio, compared to 37 percent with TV. The trend holds true for younger demos and high-income households as well. 18 to 34 year olds spend a whopping 84 percent of time with Radio, and just 16 percent with TV. In $125k+ households, 66% of time goes to Radio, and only 34 percent with TV2.

And who’s listening – virtually everyone. Radio is rich with valuable and diverse audiences. It connects advertisers and brands with listeners who are parents, Millennials, Hispanic, African American, and countless other dynamic cohorts who prefer to get information and entertainment through Audio3.

With these valuable audiences, it’s no surprise that returns with Radio are so strong.

Our Return on Ad Spend study with Neustar shows that Radio delivers the broadest reach and the deepest engagement. And it definitely means business. National advertisers can enjoy double-digit increases (up to +23%) in Audio ROAS, if they shift +1% to Audio, including both OTA and digital platforms.

As audiences begin to swim against the TV stream and drop their subscriptions, ad-supported media, led by ad-supported Audio, remains a sure bet for savvy advertisers. Ad supported Radio, streaming and podcasts pave the way to reach audiences, boost plans, and deliver strong returns.

Who’s Listening to Radio? Just About Everyone!

AM/FM: Strong and Steady For AllAcross every demographic, most tune in to AM/FM. That presence and stability are unrivaled by any other platform, including Spotify, Music Videos on YouTube Listener, and SiriusXM.
From Working Hours to Golden Hours: Opportunity to Reach Hispanic ListenersReach 25% of your Hispanic audience at work.
Reach a More Diverse Audience with RadioWith about 30% more reach over Streaming Audio, AM/FM takes the lead in attracting African American listeners.
Parents Listen Up: Audio Lovers in Households with ChildrenDon’t miss this dedicated group of listeners, as they listen to audio at home with their children and also at work.
Are You Listening? New Generation says “Yes, Definitely”Audio is a must for people aged 15-22 – 100% of them tune in.
Podcast Listeners Keep Up With the World40% of podcast listeners tune in to news Audio.

Want to talk more about reaching your target audience?

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SOURCES

1 Audacy, Consumer Pulse Study, n=1,071, P18+ conducted on Ask Suzy platform, July 2022

2 Nielsen Media Impact Analysis, 2022

3 Edison Research, Share of Ear, Q2 2022

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