FEED Autumn 2023 Newsletter

FUTURE FOCUSED

Listening to the radio, like watching TV, is an established activity with high market penetration; consequently, it shows low growth potential compared to newer, non- traditional activities like video streaming

and social media. This is exacerbated by an ageing consumer base. Streaming and podcasts are expected to increase to 27% and 11% of audio consumption respectively by 2035, with live radio shrinking to 53%.

20% 22% 24% 26% 28% 30% 32% 34% 36% 38% 40%

Relationship between past and future media activities – Global total

Lower penetration, high growth potential

Higher penetration, high growth potential

Attending live in-person events

Streaming video

Streaming music

Visiting websites or apps

Interacting with social media

Listening to podcasts

Watching movies at the cinema

Reading a newspaper or magazine in print or online Playing video games

Watching live TV

Watching non-live TV

Listening to the radio

Lower penetration, low growth potential

Higher penetration, low growth potential

Media activities done more/the same in the last 12 months

20%

30%

40%

50%

60%

70%

80%

90%

100%

Adult share of audio consumption – Service type (% of hours)

3% 3% 3% 3% 2% 2% 2% 2%

3% 3% 3% 3% 3% 3% 3% 3% 3% 2% 2% 2%

3% 3% 3% 3% 4% 4% 4% 3%

7%

3% 3% 5% 5%

6%

8%

90%

8%

4% 4%

2% 2% 6% 7% 3% 4%

11% 13% 15% 16% 17% 18% 19% 20% 21% 22% 23% 23% 24%

25% 26% 27% 27%

10%

80%

3%

3% 4% 4% 5%

70%

2% 2% 6% 7%

2% 2%

2% 2% 7% 8%

2%

2% 8%

9% 9%

10% 10% 11%

11% 11% 11%

Live radio Catch-up radio Podcast Streaming Online music clips Digital owned CD/cassette Vinyl

60%

2% 2%

2% 2%

3% 3%

3% 3%

50%

40%

73% 73% 72% 70% 69% 68% 67% 65%

64% 63% 62%

61% 59% 58% 57%

56% 55% 54%

53% 53%

30%

20%

10%

0%

2016 2017 2018 2019 2020 2021 2022 2023 2024

2025

2026

2027

2028

2029

2030

2031 2032 2033 2034 2035

One way to assess radio’s future is by analysing sales, which have steadily declined since 2015 – despite the more recent advent of satellite radio. Digital Audio Broadcasting (DAB) car radios are projected to lead household radio listening by 2035, with AM/FM car radios expected to drop off.

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