Hey there, guess what is still rockin’ the airwaves? Good old broadcast radio! Despite the buzz about podcasts, radio is still the king of audio, with a whopping 90% of Americans tuning into AM/FM stations daily. It has about 75% of the ad-supported audio market share all to itself, leaving podcasts with a slice of about 14%.
You might be thinking, “But isn’t streaming audio the new trend?” Sure, it is gaining momentum, with 16% of folks between 25-54 streaming their AM/FM tunes. But, let’s be real, when we say radio, we mean the traditional, broadcasting-through-the-airwaves, turn-the-dial kind of radio.
So, what is radio’s secret sauce? Bob Pittman, the big boss at iHeartMedia, dishes it out plain and simple: It is the “accessibility, companionship, and discovery that radio uniquely offers that other mediums simply can’t replicate.” We could also add a fourth factor, which is cost effectiveness.
Accessibility
Radio is the free spirit of media—no cost, no fuss. It’s everywhere—in your car, on your smart speaker, or snuggled in your pocket on your phone.
Companionship
Radio personalities have this cool way of making you feel like they are talking right to you. Podcasts try to mimic this, but there is something special about radio. Plus, when the world went topsy-turvy, who did people trust for news? Radio hosts, that’s who.
Discovery
Want to be the first to hear the next big hit? Radio has got your back. Studies show it is where most folks stumble upon new tunes, which they then add to their streaming playlists.
Cost Effectiveness
Advertisers, listen up! Broadcast radio delivers the most efficient reach for the lowest CPMs, with ranges between $4 and $8. TV and mobile video cannot touch that. Over in the UK, a recent study determined that exposure to radio campaigns drove ad awareness up 49%, brand relevance 24%, and brand trust 32%.
Thinking about where to put your ad bucks? Radio should definitely be in your mix. It is like the reliable friend that does not cost a fortune and always introduces you to new stuff. So, next time you are planning that big campaign, remember radio—it might just be your ticket to ad success without breaking the bank.
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Article courtesy of Infinity Concepts