Industry News

Brand Effect Study Reveals Value of AM/FM and Podcasting

The latest blog post from the Cumulus Media | Westwood One Audio Active Group examines the results of a brand effect study by Upwave of the six-month campaign of an e-commerce retailer that used AM/FM radio streaming and sponsorship of a Katy Perry-narrated podcast about Elizabeth Taylor titled, “Elizabeth the First.” Some of the findings include: 1) those exposed to the digital audio campaignim were 33% more likely to say the brand “partners with all my favorite stores,” 81% more likely to indicate the e-commerce retailer “is a brand I trust,” 140% more likely to associate the brand for offering “the best sales and coupons”; 2) among those exposed versus those not exposed, brand equity measures surged, showing 54% growth in familiarity, 31% lift in average brand images, 37% greater consideration, 102% increase in purchase intent, and 55% growth in customer forecast; and 3) concluded that best practices to power direct-to-consumer marketing effectiveness calls for allocating 74% of marketing budgets to creating future demand (brand building) and 26% to converting existing demand (sales activation), targeting broadly to expand the customer base, employing emotional advertising to build direct-to-consumer brands and drive sales and profit, being known before you are needed, and buying lots of ads in all days and dayparts. See the full blog here.

Industry News

Report: Smart Speaker Ownership Stabilizes

This week’s blog post from Cumulus Media | Westwood One Audio Active Group focuses on podcast consumer and smart speaker trends and is based on data from Edison Research’s “Share of Ear” Report from Q4 2022. Among the report’s eight key findings are: 1) Smart speaker ownership has stalled with the last growth spurt occurring Christmas 2020. From 2017 to 2019, smart speaker ownership soared from 7% to 33%. The pandemic froze purchases until Christmas 2020 when ownership jumped to 40% in Q1 2021. Since then, ownership has stalled with no post-Christmas “pop” in 2021 or 2022; 2) Smart speaker ownership rates are in the mid-40s for 13-54s but only 26% for those over the age of 55; 3) As smart speaker ownership flattens, the share of AM/FM radio streaming on smart speakers also stabilizes.The proportion of total U.S. AM/FM radio streaming occurring via the smart speaker has stabilized as device ownership growth has stalled. According to Triton Digital, since 2021, AM/FM radio streaming via smart speaker has stabilized, growing slightly from 23% to 26%; 4) Smart speakers are vital to U.S. AM/FM radio as they are now more likely to be the only “radio device” in the home. Edison’s 2022 Infinite Dial study revealed that 40% of smart speaker owners do not have a radio in their home, up from 28% in 2018; and 5) Aggressive promotion pays off as AM/FM radio is number one for smart speaker ad-supported audio shares. AM/FM radio stations are consistently number one in ad-supported audio shares on smart speaker devices. No wonder, as streaming now represents 20% of all time spent to AM/FM radio. See the complete blog post here.

Front Page News Industry News

Tuesday, April 26, 2022

NAB2022: Don’t Blink. “As if technology hadn’t already disrupted media consumption pre-pandemic,” consultant Holland Cooke finds broadcasters gathering in Las Vegas for the first NAB Show in three years “somewhat future-shocked, yet curious and enthused.” HC’s notes from Monday sessions point to threats and opportunities in the New Normal. Read it here.

 

WWO Blog: Nielsen Data Shows Spoken-Word AM/FM Content Accounts for 36% of American Streaming. The Westwood One Audio Active Group blog post is a “comprehensive analysis of AM/FM radio streaming” based on Q4 2021 data from Edison Research’s quarterly “Share of Ear” study. Among the key conclusions from the study are: 1) The streaming shares of spoken-word AM/FM radio stations are nearly double their over-the-air shares. Spoken-word AM/FM radio station streams (news/talk, sports, talk/personality, Spanish news/talk) represent 36% of all American streaming listening, 89% greater than the over-the-air share (19%) of spoken word stations; 2) 89% of the AM/FM radio streaming audience resides in the DMA market where they stream. Marketers can purchase time on AM/FM radio station streams with the confidence that their ads will reach consumers in that local market; 3) There is wide variation in the amount of AM/FM radio stream listening that occurs in local markets. According to Nielsen’s analysis of the February 2022 Portable People Meter data, 18.4% of all AM/FM radio listening in Philadelphia occurs via the stream compared to only 3.9% of listening in Las Vegas; and 4) AM/FM radio streaming audiences are employed, upscale, and most are 35-64. The streams of AM/FM radio stations are highly desirable to advertisers. Compared to the over-the-air AM/FM radio audience in Nielsen’s 48 Portable Meter Markets, streaming audiences are 14% more likely to be employed full time, 30% more likely to have a $75K+ household income, and 11% more likely to be aged 35-64. See the complete study results here.

 

Audacy and FOX News Audio Expand Partnership. This expansion of the relationship between Audacy and FOX News Audio includes FOX News Audio’s linear talk radio streaming content migrating to AmperWave, Audacy’s cloud-based distribution and monetization platform for live and on-demand audio streams. The expanded agreement will also make Audacy the exclusive third-party ad sales representation of FOX News Audio’s streaming inventory on the audio network’s digital properties. The new agreement gives FOX streaming capabilities, sales representation, and new capabilities for live broadcasts on its streaming services. FOX News Audio will be the first of Audacy’s affiliate partners to enable “Rewind” capabilities. Audacy VP of business development Corey Podolsky says, “Audacy knows that our industry is changing with listeners consuming more audio on streams than ever before. As a strategic partner, we are excited to lean into that industry shift with FOX News Audio to deliver new capabilities via our AmperWave streaming platform. Coupled with our ability to now offer world-class hosting and ad serving capabilities, this will take our relationship to a whole new level.” FOX News audio executive director of business development and digital audio operations William Sanchez adds, “We’re thrilled to expand our partnership with Audacy and collaborate on serving the growing needs of our listeners. We look forward to improving our audience’s experience with AmperWave’s hosting technology on our platforms.”

 

TALKERS News Notes. San Antonio news/talk outlet KTSA-AM is celebrating its 100th anniversary on May 9. As part of the celebration, the Alpha Media station has produced a video that encapsulates the 300-year history of the city that you can see here…..Sports talk WBFG-FM, Parker’s Crossroads, Tennessee – in the Jackson, Tennessee market, is now owned and operated by Dan Reaves, who acquired the station from Lexington Broadcasting. The Jackson Sun reports that the change of ownership became official on April 1. Reaves is a well-known radio personality in the region and is hosting the morning drive show. George B. hosts the afternoon drive daypart and ESPN Radio content airs the rest of the day. The station will remain an affiliate for the Tennessee Volunteer Sports Network and the Memphis Grizzlies broadcasts…..SiriusXM and I Am Athlete, the media network founded by former NFL All-Pro receiver Brandon Marshall, announce a new, expansive content deal that includes a live nightly radio show and other projects. I Am Athlete and SiriusXM will produce a new show called “I Am Athlete Tonight” that will air live from 7:00 pm to 9:00 pm ET hosted by former NFL defensive end Leger Douzable and include a case of rotating co-hosts including Marshall, former NFL players LeSean McCoy, Brandon Flowers and Adam “Pacman” Jones, former NBA player Antoine Walker, former WNBA player Chantel Tremitiere and journalist Omar Kelly.

 

Musk to Acquire Twitter, Russia-Ukraine War, COVID-19, January 6 Investigation, Financial Markets/Inflation, Midterms/Trump & the GOP, and Immigration Issues Among Top News/Talk Stories Yesterday (4/25). After more than a week of attempts, Elon Musk’s $54.20 per share acquisition of Twitter has been accepted prompting questions about what the new Twitter will look like; Russia’s ongoing invasion of Ukraine, its effects on the global economy, and Vladimir Putin’s other European targets; the battle over mask mandates, the dominant BA.2 variant’s spread across the U.S., and the harsh lockdowns in China; the revelations of Republican politicians’ communications before and during the January 6 Capitol attack; concerns about bearish activity on the world’s financial markets and the effects of high gas and food prices on American families; the battle for control of Congress in November’s midterm elections and Donald Trump’s influence over the GOP; and Texas Governor Greg Abbott’s transportation of migrants to Washington, DC and U.S. immigration policy were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.