Affluent Americans are an important consumer group with immense influence and purchasing power across numerous categories, according to Katz Radio Group.
Research company Ipsos released findings from a recent report, How Affluents Navigate the Latest Media Landscape, which offers new insights into audio consumption behaviors among affluent adults with household incomes over $125,000.
Affluents are "media omnivores," consuming an average of 8.5 media platforms weekly across video, audio, and print. They are "audio omnivores" as well, engaging heavily with all forms of audio, and increasing that engagement year over year. The Ipsos study finds that three-quarters of affluents listen to AM/FM Radio, more than all other types of audio, and an increase of 6 points over 2020. Audio streaming services, which includes AM/FM content as well as pureplays reaches 64% of affluents (+6 from 2020). Podcasts gained +7 points over the last two years, now reaching 51% of affluent adults.
Ipsos' survey finds that affluents are spending significant time with audio, especially AM/FM radio.
Affluents report listening to the radio for 4 hours a week, an increase of around an hour from the pandemic-impacted years 2020 and 2021. Other audio platforms are seeing increased usage as well, proof that affluents are true audiophiles - supplementing their audio usage, not replacing one platform with another.
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