NYMRAD, aka New York Market Radio, recently published their “State of the Market” report on the 2nd quarter of 2017. Their analysis provides important insights in the overall national market and trends in radio advertising.
We’ve collected some key findings from their report:
- Radio still has the largest reach of any other platform.
- Radio reaches 79% more people than Spotify and 66% more than Pandora per week.
- People trust radio. 90% of people believe that local radio is free of fake news.
- 78% of listeners say they trust radio personalities like friends.
- 78% of people say that they would try a product, restaurant, or TV show if recommended by their favorite radio personality.
- On average, radio has 3.1 fewer minutes of advertising than TV per hour.
- Television has 36% more commercial time than radio.
- 95% of Generation Z listen to reach each month.
- For every dollar spent on radio advertising, brands saw an average return of $21 on their ad spend.
- Ad campaigns that shifted 20% of their digital budget to radio saw a 29% increase in campaign reach and brand impact.
- Amazon’s radio ads had the highest sales conversion of all advertising efforts.
- Retail stores earned a $23.21 in sales for each dollar spent on radio advertising.
- For every $1 spent on radio advertising, department stores and mass merchandisers received $17 and $16.37 respectively.
- Radio impacts consumers within a two hour time frame before grocery shopping, making radio the last thing they listen to before making purchasing decisions.