Audio is on fire. But, is radio?
A study conducted by Ipsos for iHeartMedia in March 2019 says yes.
Ipsos surveyed a nationally representative sample of 6,016 consumers aged 13–64 who listen to at least one audio platform at a minimum of once a week.
The result is the new report “Day in the life Audio Journey,” which finds that consumer interest in audio is now at an all-time high.
Indeed, listeners today are enjoying more audio content across a vast array of platforms. While some may fixate on digital streaming, podcasts and smart speakers, broadcast radio remains a reach leader.
But, the percentage of consumers reached by radio may be a water-cooler topic for months to come. While the Radio industry has been fixated on a 92% reach percentage, the Ipsos/iHeartMedia study finds that on a weekly basis, broadcast radio reaches 85% of consumers.
That surpasses all other audio channels, but social media is close behind at 68%.
Live television is a distant third, at 56%.
Still, Radio’s resilience was demonstrated in the Ipsos/iHeart report. Research showed that radio has two times the daily listening of streaming services, reaching 69% of consumers compared to streaming music’s 34%.
“Audio is hot right now and a must for marketers looking to reach increasingly elusive and fractured audiences,” said iHeartMedia Chairman/CEO Bob Pittman. “If you look at the data, it’s undeniable that consumers are listening more and watching less and this study outlines when, where and why. Contrary to some misperceptions, it shows we are living in an audio-first world by drilling down a more granular overview of audio listenership and showing what a day-in-the-life of the average listener is like when it comes to media consumption.”
Although all ages enjoy listening to audio and spend an average of 17.2 hours a week with their favorite broadcast radio stations, streaming music service, podcasts and more, the study found that Millennials and Gen Z listen the most, spending more than 18 hours each week and 2.6 hours or more each day listening to audio.
“The only difference now versus decades ago is that today people can enjoy that connection anywhere they are across a variety of platforms,” said iHeartMedia CMO Gayle Troberman.
The study also explored where and when people listen.
The answer? Audio listening is most often done on-the-go, with 65% done outside the home and most often in the car, with radio accounting for 65% of in-vehicle audio listening.
But, the increased presence of smart speakers has made radio more prominent in the home; homes with smart speakers have spent 47% more time listening to radio from 8am-10pm than listeners without one.