That’s according to the second half State of New York Market Report released by the New York Market Radio Association (NYMRAD), Monday. The organization also says nearly 200 advertisers more than doubled their spending in New York City, and 15 product categories were up by double digits. The two most significant category drivers were the Grocery and Department Store categories, both of which grew by over 40%. Here are more details from the report…
NYMRAD says the New York market is ranked first in the U.S. for the number of radio listeners. “16,350,800 people over the age of 12 listen to the radio. The audience is ethnically diverse, with the Hispanic and Black populations representing 41% of radio listeners.
Using data from Statista, the report also says that in 2017 average daily radio listening time (nationally) will be 100 minutes per day and that consumers spend more time each day listening to AM/FM radio than listening to streaming audio. “On average, adults 18+ spend 2 hours and 10 minutes listening to AM/FM radio per day, 16 minutes listening to Pandora, and 7 minutes listening to Spotify. Through digital and online streaming audio services have grown significantly, AM/FM radio usage continues to lead with 50% of audio time spent amongst adults 18+ followed by owned music (14%), streaming audio from Youtube (8%), ad-supported Pandora (6%), ad-free Sirius XM (5%), and TV music channels (5%). Other forms of audio, including podcasts, ad-free Pandora, ad-free and ad-supported Spotify, and ad supported Sirius XM take up the rest of the share of audio time (7%).”
The report also details how the New York economy is booming. “New York City’s economy continues to prosper with the job workforce growing by 2.3%, or 83,800 jobs, over the prior year. As seen in previous quarters, healthcare and the sciences remain a strong growth area for the New York City area. In the last year, home healthcare services added 12,300 jobs; ambulatory health care services added 10,900 jobs; management, scientific, and technical consulting services added 4,100 jobs; and nursing and residential care facilities added 2,600 jobs.”
NYMRAD commissions the State of the Market Quarterly Guidance Report to help businesses, advertisers, and the radio industry stay informed about the New York economy and current radio research. The Q3 and Q4 edition covers the New York region from July to December, 2016.
Read the entire report HERE
