Where Are All The Young Listeners Going?
Yesterday I featured an article on broadcast radio’s generational problem, with the eye popping stat that 50% of Gen-Zers don’t listen to AM/FM radio. The assumption is these younger listeners have migrated to streaming, but a few of you asked me for details on exactly where they’re going. So the DG Research Department went into overdrive to find some fresh data from a research firm called Morning Consult.
According to their study 30% of US consumers listen to Pandora, 21% listen to Spotify, and 15% listen to Apple Music. (Note these percentages are a combination of addressable free listening and subscriptions.) Then things got really interesting when we dug deeper into the data. Check out the image below, and in particular that 18-29 yo column which is a decent proxy for Gen Z. According to Morning Consult 28% of this group gets their music from Pandora, 23% use Spotify, and a paltry 14% listen to broadcast radio.
You can also see the numbers start to reverse as you go up through the age stratas. So yes, younger listeners are consuming more streamed music than any generation before then. And yes, broadcast radio is in serious trouble about 10-20 years from now.