The latest Katz Multicultural study, titled “The Importance of the Black American Consumer,” sheds light on the evolving dynamics of the American consumer base, including the significant growth and influence of Black consumers who frequently turn to radio.
The latest US Census data reveals America’s Black population grew by 21% from 2005 to 2022. Projections indicate a further increase of 35.7% by 2060. In contrast, the non-ethnic white population is expected to decrease by 10% during the same period.
Fiscally, Black consumers exhibit more financial confidence than the average US consumer. From 2010 to 2021, Black buying power surged by 71% with projections estimating it to reach $2.10 trillion by 2026. The demographic also saw a 43% increase in households earning $100k or more over the past five years.
As such, this marks a significant opportunity for advertisers and brands to engage with and serve Black consumers in the US – especially via radio.
Black Americans are heavy media users, spending more than 81 hours weekly across various platforms, 17% more than the general population. Traditional radio emerges as the most effective medium, with 83% of Black adults tuning in weekly. This surpasses engagement rates with smartphone apps/web (82%) and TV/DVR (74%).
On average, Black American adults spend nearly 11 hours and 38 minutes a week listening to the radio, underscoring the medium’s pivotal role in engaging with them effectively, especially during commutes, work, or shopping.
Despite historical underrepresentation, brands that successfully connect with this audience stand to gain in expanding their market reach and enhancing brand loyalty. Key findings indicate that Black Americans are 28% more likely to believe it’s more important for companies to create advertising that is culturally diverse to stay relevant. 14% are more likely to buy products from companies that advertise or sponsor events in their communities.
These insights present a compelling case for brands to strategically invest in radio advertising and other culturally resonant marketing approaches to connect with Black consumers in the US. More data from the study can be found on the Katz site.
