It’s no secret that music-streaming services are gunning for radio both in terms of attracting its listeners and peeling off more of its advertising revenues. “The 20-year trend here is linear dies, everything on-demand wins. Instead of free / paid, it’s paid plus free, and free eats broadcast radio,” as Spotify CFO Barry McCarthy put it recently.
Against that backdrop, research firm MusicWatch’s latest survey is well worth a read, with its claim that radio is losing its ‘passion’ and ‘connection’ with listeners. “We asked music listeners their affinity for various streaming services, and also for Sirius XM and AM/FM. Did they love it, or dislike it a lot? One in three expressed love for music on AM/FM Radio; 34 percent to be exact. By comparison, Spotify Premium is truly beloved, with 78 percent of AM/FM station websites or apps scored only slightly higher,” reported MusicWatch. “Although AM/FM has a much larger audience, what it wins in reach it loses in affinity. More concerning, only 18 percent of 13-24 year olds feel the love for AM/FM.” It’s perhaps no surprise, but the trend is clear. “Music streaming, podcasts and changing auto tech present strategic yet clinical challenges to ‘Big Radio’. Whatever future strategies portend, they need to consider how to reignite the passion. Put simply – radio needs a hug.”
Tools: platforms to help you reach new audiences
Tools: Kaiber
In the year or so since its launch, AI startup Kaiber has been making waves,…