Westwood One Spots Trends In Edison Research's 'Share Of Ear' Study
June 2, 2016 at 11:34 AM (PT)
In its latest post, WESTWOOD ONE's Insights team has picked up some choice data points from EDISON RESEARCH's Q1 2016 "Share Of Ear" study. Overall, the study found that "podcasting is surging" and "on demand audio is on the rise."
* Despite advertiser perceptions, AM/FM radio is the king of all audio. AM/FM radio’s 52% share is nine times bigger than PANDORA and 17 times bigger than SPOTIFY.
* For the first time ever, SPOTIFY beats PANDORA among 18-24 Millennials. FMR Capital Markets analyst BARTON CROCKETT noted, “PANDORA pioneered something really interesting, really special with their free ad-based streaming music … (but now) the early adopters are moving to on-demand, and mainstream AMERICA is still in love with AM/FM radio.”
* Time spent with streaming grows at the expense of owned music, not AM/FM radio. AMERICANS are now renting their music versus buying. The growth of on-demand platforms like YOUTUBE and SPOTIFY means less time for the music people purchase.
* SIRUSXM’s audience to their ad-supported channels is a microscopic one share. SIRIUSXM’s share of time spent to their commercial-free channels is five times bigger than their ad-supported share.
* Podcasting resonates with Millennials. Among 18-34s, podcasting has an impressive 5 share of audio time spent.