A new analysis by Katz Media Group highlights the strong connection between radio and affluent consumers, revealing that high-net-worth individuals are avid AM/FM listeners. Yet not all genres are created equal for advertisers seeking monied audiences.
Using MRI-Simmons data, Katz examined the media habits of affluent Americans and found that several radio formats rank among the most upscale media brands, attracting listeners with significant purchasing power across various industries. The findings updated previous research from 2023.
Unlike traditional advertising strategies that target high-income audiences primarily through TV, magazines, and newspapers, this study focused on net worth as a broader measure of wealth. This includes financial assets, home values, and possessions, painting a more comprehensive picture of affluent consumer behavior. According to MRI-Simmons, the average net worth of US adults stands at $418,000.
The study found that several radio formats rank among the top 50 media brands based on the average net worth of their audiences. Classical and All News radio listeners have a higher average net worth than audiences of any measured TV, magazine, or newspaper property. News/Talk and AAA listeners surpass those of The Atlantic, Golf Channel, and Fox Business Network, while All-Talk audiences rank above Kiplinger’s and The Wall Street Journal.
Alternative music fans have a higher net worth than The New Yorker readership, while Soft AC listeners outpace The Economist audience in wealth.
Katz also explored where these affluent radio listeners spend their money. Listeners of the most upscale radio formats display higher-than-average monthly credit card expenditures and tend to overspend in nearly every major purchasing category.
Upscale spending categories among these radio listeners include travel, technology, fine dining, fine jewelry, and luxury home goods. Domestic travel is a standout, with listeners of All-News, Classical, and Sports radio formats significantly over-indexing in this category. Additionally, these consumers are major spenders in local markets, frequently investing in auto aftermarket services, home and garden maintenance, veterinary care, and flower shops.
While some brands may traditionally focus their messaging on TV, print, or digital platforms, the study suggests that radio provides a direct and influential connection to this high-spending demographic. More information is available via Katz.
