The Nielsen Q3 2023 Total Audience Report has the results for AM/FM Radio and TV, which are shocking.
The following are highlights from the report:
- Ratings and Demographics
- People 18-49 years old pulled away from TV to radio with a +12% average audience advantage.
- AM/FM radio reaches +40% more individuals than TV. Daily time spent with the two is now tied.
- Half of the general TV audience is over 65.
- Advertisers estimate that 41% of AM/FM listening happens at drive times.
- Middays are number one at 26% of total AM/FM radio time spent.
- Radio Advertisement Revenue
- Radio advertisements grossed $1.9 billion in 2023, a 6.8% increase from the previous year.
- The industry’s Compound Annual Growth Rate stands at a strong 6.4%.
- In 2022, radio stations generated $1.8 billion, a 21.1% increase from 2021.
- Digital sales contributed 21% of the total ad revenue in 2023.
