Click here to download the Cumulus Media | Westwood One Audio Active Group® analysis report of Edison Research’s “Share of Ear.”

Click here to view a 9-minute video of the key findings.

For the last ten years, Edison Research’s quarterly “Share of Ear” study has been the authoritative examination of time spent with audio in America. Edison surveys 4,000 Americans annually to measure daily reach and time spent with all forms of audio.

Each report is based on a four-quarter rolling average. The most recent Q3 2024 survey is comprised of Q4 2023, Q1 2024, Q2 2024, and Q3 2024.

This analysis of the just released Q3 2024 data focuses on what advertisers care most about – ad-supported audio.

Key findings:

• Among major demographics, AM/FM radio is the dominant ad-supported audio platform. Podcasts have significant shares among younger age groups.
• Among African Americans, AM/FM radio is particularly strong. Podcast shares are not as strong as the general market.
• Among Hispanics, podcast shares are stunningly strong. Among 18-34 Hispanics, podcasts are now the number one ad-supported audio platform.
• In the car, AM/FM is the “queen of the road” with an 86% share. Even among 18-34s, AM/FM radio has an 82% share of ad-supported audio.
• 13% of all AM/FM radio listening occurs via streaming, steady over the last three years. On the smart speaker, AM/FM radio dominates with a 50% share of ad-supported listening.
• Sadly for advertisers, most of Spotify’s audience is unavailable to place advertising. While Spotify’s ad-free subscription audience soars, it’s ad-supported shares stagnate at a two share.
• Streaming music audience growth comes at the expense of owned music rather than AM/FM radio.

1. Among major demographics, AM/FM radio is the dominant ad-supported audio platform. Podcasts have significant shares among younger age groups.

Overall, 69% of all ad-supported audio time spent goes to AM/FM radio, followed by podcasts (19%). Across major demographics, AM/FM radio is the leader in ad-supported listening with shares ranging from 50% to 80%.

Podcasts generate strong shares. Among 18-34s, a third of all time spent goes to podcasts. Among 25-54 and 18-49s, podcasts earn a ~25% share. Shares of Spotify, Pandora, and SiriusXM are small in the mid-single digits.

2. Among African Americans, AM/FM radio is particularly strong. Podcast shares are not as strong as the general market.

3. Among Hispanics, podcast shares are stunningly strong. Among 18-34 Hispanics, podcasts are now the number one ad-supported audio platform.

Among Hispanics persons 18+, the podcast share of 29% is much higher than the general market (19%) and nearly 3X African Americans (11%).

Over seven years, Edison’s “Share of Ear” reports podcasts have soared from a 12% share among 18-34 Hispanics to a 48% share. Podcasts are now the most listened to audio platform among 18-34 U.S. Hispanics!

Over the same period, Pandora’s shares among Hispanics have collapsed from a 15% to a 3% share. Podcasts now beat AM/FM radio 48% to 35% among 18-34 Hispanics, a historic first.

4. In the car, AM/FM is the “queen of the road” with an 86% share. Even among 18-34s, AM/FM radio has an 82% share of ad-supported audio.

To reach Americans on the path to purchase, all roads lead to AM/FM radio.

AM/FM radio’s massive in-car shares have been in the mid to upper 80s over the last six years.

5. 13% of all AM/FM radio listening occurs via streaming, steady over the last three years.

The proportion of AM/FM radio listening occurring via the stream is up from 8% in 2017/2018.

6. At a 50% share, AM/FM radio leads with smart speaker ad-supported listening.

Half of all ad-supported audio time spent on smart speakers goes to AM/FM radio, followed by podcasts (20%).

7. Sadly for advertisers, 73% of Spotify’s audience is unavailable to place advertising. While Spotify’s ad-free subscription audience soars, it’s ad-supported shares stagnate at a two share.

Three quarters of Spotify’s audience is not available to advertisers as the majority of time spent is to the ad-free subscription service.

8. Streaming music audience growth comes at the expense of owned music rather than AM/FM radio.

Over the last eight years, time spent with owned music (purchased iTunes downloads, CDs, albums) have shifted to “rented music,” a.k.a. streaming subscriptions. In 2017, Americans spilt their time equally between streaming music and owned music. Today, share of time spent is 76% streaming versus 24% owned music.

Key findings:

• Among major demographics, AM/FM radio is the dominant ad-supported audio platform. Podcasts have significant shares among younger age groups.
• Among African Americans, AM/FM radio is particularly strong. Podcast shares are not as strong as the general market.
• Among Hispanics, podcast shares are stunningly strong. Among 18-34 Hispanics, podcasts are now the number one ad-supported audio platform.
• In the car, AM/FM is the “queen of the road” with an 86% share. Even among 18-34s, AM/FM radio has an 82% share of ad-supported audio.
• 13% of all AM/FM radio listening occurs via streaming, steady over the last three years. On the smart speaker, AM/FM radio dominates with a 50% share of ad-supported listening.
• Sadly for advertisers, 73% of Spotify’s audience is unavailable to place advertising. While Spotify’s ad-free subscription audience soars, it’s ad-supported shares stagnate at a two share.
• Streaming music audience growth comes at the expense of owned music rather than AM/FM radio.

Click here to view a 9-minute video of the key findings.

Pierre Bouvard is Chief Insights Officer of the Cumulus Media | Westwood One Audio Active Group®.

Contact the Insights team at CorpMarketing@westwoodone.com.