Today's Business Owners Are Audio Fans

As the B2B vertical continues to grow for radio, it is evident that advertisers are becoming more confident in radio's ability to deliver ideal business targets. But just who are these targets? Katz digs into MRI-Simmons data this month to explore the who, what, where, and why of the business owner's audio landscape. 

For this analysis, business owners are defined as owners/partners, presidents, CEOs and general managers. The majority of business owners have small businesses; three-quarters run companies that have less than 100 employees. The companies they run perform varied services, such as business, industrial, construction, medical, personal, retail, and agriculture, among many others. 

Business owners are younger than one may think -  there are more Millennials running a business than GenXers or Boomers. 36% of business owners are Millennials, +7 points ahead of Baby Boomers. GenXers come in close behind at 27%. The generations at the youngest and oldest ends make up the smallest shares of business owners - Gen Z (4%) and Pre-Boomers (3%). 

Business owners are big fans of audio, with 7 in 10 listening to AM/FM radio (72%) and audio streaming services (74%), which include services that stream AM/FM content, such as Audacy and iHeartRadio, as well as pureplays. As 59% of business owner households subscribe to audio streaming services, a good portion of that listening is likely to be commercial-free. Therefore AM/FM radio remains the best way for brands to connect with business owners as it dominates audio ad opportunities. 

Location-wise, business owners are likely to be found consuming radio in their cars, at work, and at home. On a typical weekday, 81% of business owners listen to radio in their cars. Business owners are much more likely than the average American to listen to the radio at work both on a weekday (+66%), and on weekends (+96%). Dial-position-wise, business owners can be found listening across all formats. From News/Talk/Sports to every music format, business owners are tuned in. Radio acts as a jack of all trades for business owners. It is a source of entertainment, information, and escape - improving their mood, relaxing them, and making them think. 1 in 3 business owners say that radio is a good source of learning, and the ads provide them with useful information on new products and services.