Report: Radio's Place In The Music Biz Still Valuable & Viable

Scanning The Dial For The Hit (Photo: Shutterstock)

Two things have taken the shine off of radio's hit making ability -- the advent of streaming platforms (DSPs like PANDORA, SIRIUSXM, iTUNES, AMAZON and SPOTIFY) and the COVID-19 pandemic, which impacts commuter time where radio is most-consumed: in the car.

Research from places like NUVOODOO still show that the relevance of radio remains strong, particularly because of personalities. The positives run generationally.

NUVOODOO EVP/Research LEIGH JACOBS observed, “Overall, it’s more positive than negative. But there is a sharp generational shift. Gen Xers – raised on radio and now 40-plus – are largely positive, with a 43% plurality giving DJs a thumbs up. Millennials, though somewhat less enthusiastic, are overall net positive as well. Meanwhile, nearly three-fourths of Gen Z listeners give radio air talent no better than thumbs sideways.”

Many in the radio and music business acknowledge that while radio may not be starting all of the hits, it's still "the finisher" when it comes to driving home the hits for recognition and profits.

VARIETY reports that this shift is having a growing affect on how labels are working with radio and how they are budgeting resources for radio in terms of staffing and emphasis. "AM/FM radio still owns the largest piece of AMERICA’s audio pie, according to EDISON RESEARCH. Its 2020 “Share of Ear” report says terrestrial radio accounts for 39% of audio consumption among those 13 and older, compared to 18% clocked by streaming services, second among all audio segments, including podcasts, satellite radio and owned music."

Check out the full report right here. 

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