It’s long been predicted that TV and radio will lose a Darwinian battle to subscription on demand services like Netflix, Hulu, Pandora, etc.
The recent Nielsen Q1 2016 Total Audience Report indicates the media evolution trend is continuing, however broadcast—that’s TV and radio combined—is still the most powerful medium. For now.
TV and radio may not dominate the universe the way they once did, and statistics show they continue to lose share. But the chart below confirms their staying power as a resource to reach an audience. If you’re seeking to build awareness with the Boomer generation — who also have the deepest pockets — live TV still holds a 53% share of time spent. Combine TV and AM/FM radio (not streaming services), and you’re looking at 70% of a Boomer’s daily media consumption. Conversely, if your targets are 18-34, you’d best be paying attention to reaching them digitally and by subscription video on demand (SVOD). In fact, the average time per day spent on digital devices in this age group grew 74% in the last 2 years. But still, live television and radio claim a 46% share for the younger generation.
Somehow, AM/FM radio still hangs in there at 17%, though its audience skews older. 18-34 year olds spend an average of 10:19 minutes per day listening to radio, while 50-64 year olds top the average at 15:09.
So what does this mean for your strategic planning and your media commitments?
Broadcast is still a powerful tool to build awareness.That awareness gets translated to better engagement when customers seek your brand in digital mediums. But it’s more important than ever to be well informed, and to aim carefully before you fire off precious media dollars, because the landscape is shifting constantly.
The Bottom Line
When things get complex, applying the fundamentals of understanding how, when and where to reach your customers and prospects is more important than ever.