Cumulus/Westwood Studies: Audio Listeners are a Rich Source of In-market Financial Consumers
Seven consumer studies commissioned by the Cumulus Media | Westwood One Audio Active Group® over an eight-year period find audio listeners are a rich source of in-market financial consumers and drive significant top and bottom funnel impact. The key findings from the studies are outlined on this week’s blog.
Key takeaways:
• Compared to TV viewers, audio listeners are far more likely own investment assets, to be in the market for financial services, and be interested in the category.
• Despite massive TV spending by financial service marketers, TV viewers exhibit low brand equity for financial service brands and weak interest in the category due to the older skew of TV audiences.
• MRI-Simmons: Heavy podcast and AM/FM radio listeners are the ideal audiences for financial brands as they are more likely to be premium clients willing to pay for financial services.
• Case study #1: MESH Experience: Among consumers with $500K+ of investable assets, heavy AM/FM radio listeners are three times more likely than heavy TV viewers to be in the market for a new or additional financial services company.
• Case study #2: AM/FM radio drives strong growth in top funnel measures such as awareness, favorability, and consideration.
• Case study #3: A MARU/Matchbox study of consumers with $1M+ of investable assets found over a six-month period, an AM/FM radio campaign generated double-digit lifts in most measures of brand equity.
• Case study #4: Heavy AM/FM radio listeners are more likely to be active investors and more engaged with the financial category versus heavy TV viewers.
• Case study #5: Heavy AM/FM radio listeners are +44% more likely to be financial ‘thrivers,’ those who like taking investing risks and agree that investing is important.
• Case study #6: Compared to TV viewers, audio listeners are much more likely to have investments across a broad array of assets classes and more likely to invest in major financial brands.
• Case study #7: Harris Poll Brand Tracker: A Westwood One NFL AM/FM radio campaign generates significant brand equity impact far stronger than among TV viewers.
Check out today’s blog post.
View a 15-minute video of the key findings here.
Earlier this week, Michael Harrison published his top 10 list of suggestions for being a successful talker. Item number three really caught my eye:
My father recently called my attention to something hiding in plain sight. He was watching YouTube and noticed ads for StreamYard, Riverside, Sprizzy and other companies selling tools and services to people who want to produce, distribute, or promote their own media. “They are advertising on consumer venues!” he told me. That was the part that caught his attention.
platforms, AM/FM radio, including over-the-air and radio streams, accounts for 70% of the time spent with ad-supported audio sources in the car. Edison says, “Podcasts rank a distant second, accounting for 11% of ad-supported in-car audio time. Streaming music accounts for a significant amount of in-car audio time, but most of that listening is ad-free. When we filter consumption by ad-supported platforms, streaming music comes in third at 10%. Music and music videos on YouTube close out the fourth slice of the pie at 7%. Note that Share of Ear captures listening by everyone in the car, not just the driver.”
frustrating for supporters. National Association of Broadcasters president and CEO Curtis LeGeyt comments: “America’s broadcasters applaud House Majority Leader Steve Scalise for his announcement to bring the AM Radio for Every Vehicle Act to the House floor for a standalone vote the week of September 14. This is an important step forward for legislation that has earned overwhelming bipartisan support in Congress and across the country.
13. It will feature artists, newsmakers and mental health professionals in honest and meaningful conversations about mental health, emotional well-being and the importance of speaking openly and listening without judgment. Audacy SVP of programming Dave Richards says, “Nearly a decade after we first launched ‘I’m Listening,’ the need for honest conversations about mental health has never been more important. Every year, we’re reminded of the power of simply creating space for people to listen, share their experiences, and know they’re not alone. We’re proud to bring this important program back to our audiences nationwide and continue using the reach and intimacy of audio to connect people with stories, resources and hope.”
By Walter Sabo
Long known as the kind of radio talk show host who can “draw a crowd,” legendary New England personality, best-selling author, newspaper columnist, and broadcasting entrepreneur 
By Matthew B. Harrison
“another major milestone in JFMN’s strategic vision of building the nation’s premier independently owned News-Talk-Sports media network.” JFMN co-founder John Fredericks says, “As we continue to grow across America, Tennessee is a key market for our future. Our mission is simple: deliver compelling News-Talk-Sports programming that people can’t get anywhere else. We’re building platforms that serve our audience – not shareholders – and this expansion is another major step in that vision. We’re proving that News-Talk and Sports belong together. Our audience wants breaking news, honest opinion, and the teams they love – all from one trusted source. That’s exactly what we’re delivering.” 
owned an in-car infotainment system, and 40% own one today. In 2019, 86% of in-car listening time among those who have an Android Auto or Apple CarPlay went to non-digital sources such as AM/FM over-the-air, SiriusXM satellite radio, and owned music like CDs. Now, seven years later, in-car infotainment owners spend 36% of their total in-car audio time with digital sources including streaming music, AM/FM streaming, podcasts, and audiobooks. Even on, 64% still goes to non-digital sources like AM/FM over-the air radio and satellite radio.
the endorsement of President Donald J. Trump and backing from first responders, emergency managers, public safety organizations and community leaders nationwide. NAB president and CEO Curtis LeGeyt says, “The time for Congress to act is now. Hundreds of broadcasters from across the country alongside nearly one million AM radio listeners have reached out to their members of Congress to support the AM Radio for Every Vehicle Act and protect this essential public safety resource. We are grateful to our congressional champions who have led this bipartisan effort every step of the way. Congress has everything it needs to act. It is time to finish the job and send this bill to the president’s desk.”
for advertisers, “the platform supports more informed media planning through observed audience behavior, large next-day samples, and market-level consumption trends, enabling more precise audience- and market-level planning and better alignment between campaigns and listening trends.” Cumulus Media president of operations Bob Walker says, “We’re proud to be the first broadcaster to deploy AutoStage Broadcaster Portal Premium as part of our broader effort to bring new sources of audience insight to radio. The platform gives us access to a level of audience intelligence that hasn’t previously been available, creating new opportunities for content creators, sales teams, and advertisers alike. The AutoStage heat maps are a particularly compelling example, visually illustrating where listening is concentrated, on an aggregated basis, relative to advertiser locations. By giving advertisers a richer understanding of audience distribution and listening trends, the platform helps them plan more effective campaigns, optimize audience-level planning, and maximize the impact of their radio investments.”
Connoisseur from marketing agency IMRE where she was chief people officer. Connoisseur CEO Jeff Warshaw comments, “As we continue to grow our company, investing in our people remains one of our highest priorities. Lorraine brings an exceptional combination of strategic vision, leadership, and genuine passion for developing talent. She understands that great companies are built by great people, and her experience helping organizations strengthen their culture and invest in employee success makes her an outstanding addition to our leadership team. We’re excited to welcome Lorraine as we continue building an environment where our employees can thrive and do their best work.”
Radio, local talk and coverage of University of Nebraska sports. Walnut Media president Patrick Combs says, “This is an incredibly exciting moment for our company and for sports fans across the region. We are proud to add this historic signal to our group and are excited to offer not only top-notch sports content but also give Husker fans a powerful regional signal.” The station will become the Omaha market’s radio source for Huskers athletics including football, men’s and women’s basketball, volleyball, baseball and “Sports Nightly.” Walnut Media vice chair Nick Seline adds, “We are pleased to add one of the largest and most historic stations in the Midwest to our growing media family. This investment will give us added ability to serve both our listeners and our advertisers.”
progressive perspective.” KBLA contributor Dr. Cornel West says, “Tavis Smiley’s programming fills a content vacuum across the United States and is needed more now than ever. Under Tavis’ bold leadership, KBLA and its program hosts have helped to influence, educate, and engage previously marginalized people across this country. I’m excited for what the future holds.” Smiley says, “Five years ago, on Juneteenth, we launched KBLA Talk 1580, with the goal of providing news and information to a part of Los Angeles that had been ignored or pushed to the side for decades. We’re now syndicated in almost 50 markets across the United States with more growth on the horizon. The best is truly yet to come.”
and he comments on company’s emergence from Chapter 11 bankruptcy protection and the rededication to sports programming, “Relieving that financial pressure has been liberating. We’ve got everybody swimming in the same direction. Linear broadcast, streaming digital and on-demand podcasts… they don’t compete with each other. They all sing together, like a maestro with a band.” The Fan produced an NFL Draft watch party on YouTube featuring the station’s hosts and with the success of that decided to do halftime and postgame shows on YouTube during the Knicks’ Finals series. Audacy says those livestreams are part of the reason it brings in one-third of its revenue from digital sources.