The latest FMR Associates/Eastlan National Radio Listening Study brings positive news for radio broadcasters to finish the year, revealing that weekly AM/FM listening in 2023 among adults aged 25-64 remains strong at 86%, consistent with 2022 figures. This steady listenership spans across different demographics, including age, sex, market rank, and geographic region, highlighting radio’s enduring appeal.
Conducted annually from March to October, the FMR Associates and Eastlan Ratings’ National Listening Study surveyed 1,500 adults aged 25-64 and showed stability in traditional radio listening, when some audio sources showed decline. In comparison to radio’s 86%, streaming audio attracts 63% weekly listenership, personal music 53%, podcasts 24%, and satellite radio 15%.
Radio Ink discussed the initial findings with FMR Associates’ Managing Partner Kent Phillips:
“What strikes me is after a decade of change the audio space seems to be VERY stable for now. There was little change year to year which should be encouraging. Radio remains strong, but gains made by podcasters and streaming services seem to be holding as well. Listeners seem to have made their choices in the audio space and sticking with them.”
As for a message that radio sellers and brands curious about AM/FM should receive from the study, Phillips said, “Radio remains a strong/viable choice for advertisers/brands. It seems every decade there is something that is supposed to replace radio: first TV, then cable, then satellite radio, then streaming, and recently podcasting. All have a space in the audio choice spectrum, but radio is still solid at 86% weekly use. Advertisers can purchase radio (and for that matter podcasting and satellite) with confidence that they will deliver audiences they did last year! Stability is good.”
2023 marks the first year in a decade without an increase in podcast listening, maintaining a steady rate of 24% from the previous year, indicating a plateau in this medium’s growth. Of whether this change could make a signal about digital audio’s future, Phillips told Radio Ink, “You can read this study a couple ways. One could argue that digital may have peaked or interest is waning. I don’t see it that way at all. What this study says is the gains in the digital space over the last decade, from streaming channels to podcasting, are here to stay. It also says that radio co-exists nicely with these digital options and remains the dominant force in audio.”
When forecasting 2024, stability remains key. “Video/TV is going through a massive transformation,” commented Phillips. “Audio has become the stable medium!”
The full survey, offering more insights, will be released to Eastlan and FMR clients on December 15th.
