The State of Radio in 2014
At the recent RAIN Summit West conference in Las Vegas, CEO of Inside.com and internet enterpreneur Jason Calacanis shared a presentation on The State of Media in 2014.
Radio featured heavily alongside television, gaming, internet, newspapers, magazines, music, video games, movies etc. It focused a lot on comparisons of old media listening and revenue versus new media.
Whilst the presentation is based on the US, it's a similar story here in Australia. Only the numbers change. There are some differences such as satellite radio not existing in Australia and US public radio being the equivalent of our ABC/JJJ .
The US has always been a good indicator of things to come for the Australian market, so in a way this is a glimpse into our radio future.
Here’s a summary of the radio trends which include the continued strength of terrestrial radio listening and revenue, online radio reach, how the older players will stay relevant, the growth of left field podcasters, Pandora’s revenue trend, the growth and future of direct to consumer (subscription) radio, the disparity between time spent on radio with ad spend on radio and the prediction that the big radio companies will covet podcasting in the future as consumers usage continues to change.
Interestingly it shows that last year in the US, Broadcast radio revenue was $15.5 billion compared to Online/Mobile revenue at just under $1 billion and Pandora just over ½ billion.
It also shows the % of listening to AM/FM radio versus other platforms is not dissimilar across the generations – 66% for millenials, 67% for Gen X and 68% for Boomers.
To see the full presentation, click here.
Brad March is a former CEO of the Austereo Network and is Managing Director of Marchmedia.