Edison Research’s Q3 Share of Ear study reinforces radio not just as the leading ad-supported audio platform, but as the undisputed champ of all audio in the US from Q4 2023 through Q3 2024, including with Millennials and Gen Z.
AM/FM radio accounted for 37% of total time spent with audio among persons 18 and older in the latest report. Music videos on YouTube follow at a distant second with 13%, while podcasts take third with 10%.
Ad-free SiriusXM, owned music, and ad-free Spotify each hold 6-7% shares. Other platforms such as Apple Music, audiobooks, and various streaming audio services, including ad-supported options like Spotify and Pandora, represent smaller portions, each ranging from 1% to 3%.
AM/FM takes an even larger piece of the ad-supported audio time pie with 69%, an increase of a few points on the latest edition of Edison and Nielsen’s “The Record.” Radio rules with all major demographics, including younger audiences. Despite growing podcast shares, radio remains the top choice for audiences aged 25-54 and 18-49.
With an 86% share of in-car ad-supported audio time, radio remains the go-to choice for drivers. Even among 18-34s, AM/FM captures an 82% share.
Another area of steady performance is via streaming, where thirteen percent of radio listening occurs. Much of this comes through Smart Speakers, where radio leads with a 50% share of ad-supported listening, followed by podcasts at 20%. Despite a plateau in smart speaker ownership over the years, the space could be due for a resurgence as Amazon seeks to boost its Alexa with AI.
Outside of radio, podcasts continue to gain ground among younger listeners with 33% of ad-supported audio time among 18-34s attributed to podcasts. The medium is also finding success among Hispanic listeners, particularly those aged 18-34. With a 48% share of time spent listening, podcasts have overtaken radio, which now holds a 35% share.
While Spotify’s ad-free subscription audience grows, 73% of its total audience is unavailable for advertising. Spotify’s ad-supported shares have stagnated at just 2%, limiting its value for advertisers. The rise of streaming music has come at the expense of owned music formats like CDs and iTunes downloads. In 2017, Americans split their time evenly between streaming and owned music; today, streaming commands 76% of audio time, with owned music dropping to 24%.
A full unpack of the Q3 Share of Ear findings can be found in this week’s Cumulus Media/Westwood One Audio Active blog.
