*The following is excerpted from an online article posted on Forbes.
A study released by the Music Business Association and data analysis firm LOOP (Lots of Online People) confirms that millennials aren’t listening to radio nearly as much as older generations, and the drop off in usage and change in behavior is impressive. The study contains the answers from over 3,000 respondents, and the results focus on younger millennials, which in this case are defined as those between the ages of 15 and 19 (as of May 2016).
In lieu of radio, younger millennials have turned their ears and their attention to streaming, with many of those polled opting for on-demand options. This shows that not only is streaming in general more favorable, but the idea of radio simply isn’t as appealing to younger music lovers as it used to be for their older siblings, parents, and grandparents. According to the report, on-demand streaming (such as Spotify and Apple Music) accounts for 51% of a younger millennial’s daily listening. When considering all age groups combined, that number is cut in half, landing at 24%.
Regular AM/FM radio still brings in plenty of people, accounting for 35% of the general population’s listening on any given day. Younger millennials say that they only spend around 12% of their time with radios, which are becoming more outdated as the years pass. Interestingly, those younger music listeners still have access to radios, but they aren’t engaging with them very much (or at all).
Instead, it’s all about smartphones and other connected devices for the younger crowds, which should come as no surprise to anybody who knows someone between the ages of 15 and 19. Smartphones are now responsible for 41% of their listening, which is much higher than the average when taking into account all age groups, which is just 18%. There is clearly a lot of room to grow when it comes to streaming platforms and the older generations, which seem to have barely been tapped.
Millennials don’t listen to as much radio as those that came before them because they have much better options these days. Younger millennials are also in a unique position, as many of their parents are young enough to have caught on to streaming or other listening options instead of sticking with radio. The popularity of streaming is growing all the time, and now that so many devices have connected capabilities and wi-fi (including cars, where a lot of radio listening takes place), it’s easy to see why young millennials don’t have the connection to the radio that older generations still do.
Source: Forbes
http://www.forbes.com/sites/hughmcintyre/2016/07/12/millennials-arent-very-interested-in-traditional-radio-any-more/#117038007568
Source: Homeword | homeword.com
