Remember when first quarter was always slow, sales were sluggish, and not a whole lot was going on?
Not anymore, and certainly not in 2024. It’s been a tumultuous Q1 across the board, as radio – and the rest of the media world – is being roiled by change. While not true in all cases, numbers frequently tell a compelling story. And this quarter is no exception.
Here’s a look at some of the numbers we’ve been grappling with in Q1 2024:
2
America’s number two radio company announced its bankruptcy plan in February, a shoe that many analysts had predicted dropping for months. Under the plan, Soros Fund Management will own the largest piece of the company. The restructuring allows for $1.7 billion in existing debt to be slashed.
Who will sit on the board and in the executive offices is the source of great speculation because the shape of the company moving forward will have an impact on perceptions of broadcast radio, especially in the advertising community? Lots of questions surround these events, and we may not know the answers to them for some time. But there’s no question the reverberations caused by the second largest radio company in America declaring bankruptcy – now joining the other groups that have already gone this route – will impact the broader radio broadcasting industry and how it is perceived by the communities that matter.
14.5 million
If that number looks gargantuan to you, it’s because it is.
It’s the number of podcast followers (not necessarily listeners, but who cares?) Joe Rogan has racked up since cutting that first deal with Spotify just four years ago. It’s nearly 3x bigger than the second place podcast (TED Talks Daily).
Amazingly, those numbers don’t account for his followers on Instagram (18.9 million) and YouTube (16.4 million).
50%
I reported this number in a blog post earlier this month, and it still blows my mind when I think about it. The comeback for vinyl records is an amazing story that has been well-documented.
But buried in the sales numbers is the stat that half of vinyl sales are by people who don’t own a turntable. That astonishing data point was reported in Music Business Worldwide this month on data from Luminate.
Sounds like vinyl records have become a top collectible, only good news for the recording industry, and for radio stations that step into the opportunity.
99%
This is the percentage of new vehicles equipped with Android Auto and Apple CarPlay, according to a soon-to-be-released study from Quu Interactive. Their “2024 In-Vehicle Visual Report” – the first of its kind – surveyed 100 of the best-selling vehicles in the U.S. to learn about how they’re equipped with AM/FM radio, HD radio, and other infotainment services and features.
Quu will have a webinar April 10 to reveal this exciting new study designed to help broadcasters navigate the fast-changing “connected car” landscape. You can register for it now right here.
226/48
These are the most current number of co-sponsors in the U.S. House and Senate respectively for the “AM For Every Vehicle Act,” an unusually strong bipartisan showing of support. The NAB, NASBA, and state broadcaster associations have been especially active in drumming up support for the bill, as have umpteen radio organizations and groups.
In a rare moment of unity, the radio broadcasting industry is speaking in one voice. Let’s see if our legislators can get something passed.
11.1 billion
That’s how many dollars are projected to be spent on political campaign advertising this year, according to BIA. That’s in the same range other analysts are projecting for ad spend during this cycle. If BIA is correct, that will represent a 24% increase over 2022 spending levels, and nearly 16% stronger than 2020, the last Presidential election.
Radio’s projected take? $400 million.
7 million
That’s dollars paid for three FMs in Nashville and another in Honolulu by EMF, the Educational Media Foundation. On the surface, this sounds like another notable expansion of Christian radio’s footprint, but EMF purchased the stations from Salem, a trimulcast programming “The Fish.” So, technically, it’s a push.
Still, it’s another indication of the direction that radio station sales have been moving these past few years. During this same period, Relevant Radio, a Catholic radio network based in Chicago purchased a number of stations and translators in Indiana, a move to bolster its presence in the region.
180.5 million
You knew ChatGPT has experienced explosive growth but Exploding Topics (appropriately) pegs their percentage of users at over 180 million. Additionally, openai.com (ChatGPT’s parent) racks up 1.6 billion visits a month.
It’s another reason why Chris Brunt continues to catalog AI’s progress – the good, the bad, and the unknown – each week in our newsletter, AI Edge. Register for it here.
75%
And while we’re on the topic, newly-released Techsurvey 2024 data frames the core audience’s trepidation about robots replacing DJs. In a question series designed to measure initial reaction to radio utilizing AI technology for a variety of uses, three in four express “major concerns” over the idea of bots taking the place of humans behind the mic:
Keep in mind, this is the first year we’ve asked these questions in Techsurvey. Trending over time will tell a richer story about how Americans perceive this fast-emerging technology. Sometimes – like in the case of smart speakers – initial fears solidify over time and become bona fide growth impediments. But in other situations, people become accustomed and accepting of new technology. Stay tuned.
Meantime, our all-industry free Techsurvey 2024 webinar is set for Thursday, April 25 at 2pm ET. Register for it here. I promise that in addition to bar graphs and pie charts, we’ll provide a thoughtful narrative for this data, outlining the ways which radio broadcasters can take key steps that better their brands.
Note: The post originally stated incorrectly our Techsurvey 2024 webinar is Thursday, April 18 at 2pm ET. It has been changed above to reflect the correct day/time: Thursday, April 25 at 2pm ET. – FJ
Jacobs Media has consistently walked the walk in the digital space, providing insights and guidance through its well-read national Techsurveys.
In 2008, jacapps was launched - a mobile apps company that has designed and built more than 1,300 apps for both the Apple and Android platforms. In 2013, the DASH Conference was created - a mashup of radio and automotive, designed to foster better understanding of the "connected car" and its impact.
Along with providing the creative and intellectual direction for the company, Fred consults many of Jacobs Media's commercial and public radio clients, in addition to media brands looking to thrive in the rapidly changing tech environment.
Fred was inducted into the Radio Hall of Fame in 2018.
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Fred, with George Soros owning a huge chunk of Audacy, the MAGATs will be screaming about a “left-wing ownership “regime”. Why not do one, Audacy has a bunch of dead-in-the-water FM stations all over the country. Take a look at the popularity of rightwing/Trumpitista proposals, 55-70 percent negatives on the dumping of Roe v Wade, etc. Put some lefty talk on those dog FMs and give the audience what they want to hear.
I’ve listened to Joe Rogan a few times, on one show he was bragging about what great shape he is in. He said, “I’m so flexible I could give myself a BJ.” I wonder if he ever tried it? He said he was going to do it.
His 15 million listeners must have Howard Stern’s 13-year-old boy inside of them..