Katz: Radio Ad-Influenced Consumers Are Valuable
Katz Radio publishes an insight piece based on data from Nielsen Scarborough looking at the action taken by consumers of various measured advertising types. Katz’s analysis concludes that “two-thirds of consumers say they have taken action as a result of an ad in the past three months. One in 4 of
those consumers report having taken an action based on radio ads, in particular. Such actions can be recommending something to others, posting or following on social media, visiting a website, going to a retail location, or actually making a purchase. While we do not know which advertisers’ messaging they responded to, we do know that these radio-influenced consumers are highly engaged across categories, making them advantageous to brands – and more valuable than ad-influenced adults in general. Radio-influenced consumers are more likely to be spending money on sports betting, vacations, cars, movies, and retail than the average adult, and even more than other ad-influenced adults.” See the Katz piece here.
Nicole Ovadia says, “Our latest forecast indicates that local advertising is showing resilience, despite the ongoing changes in the economic landscape. Although we expect core advertising to remain stable, we’ve adjusted our outlook to account for various market factors like interest rates and consumer sentiment and significant changes in media consumption patterns that are driving digital growth.” The forecast indicates strong growth in several sectors: Real Estate at 9.3%, Restaurants at 9.2%, and Retail at 6.8%. The Education and Automotive verticals are also experiencing substantial growth, with increases of 5% each.