Radio Powers Streaming Video Subscription Service
| RADIO ONLINE | Monday, September 21, 2020 |
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 Westwood One |
Westwood One's Insights team highlights a streaming video subscription service that recently utilized AM/FM radio to drive awareness and interest in their brand. It also looks at the current TV ecosystem and outlines how viewing patterns are changing. Radio is an ideal media platform for those in the market for a new online video subscription service: Two-thirds of Americans said they were "very likely" to sign up for a streaming service. An even greater proportion of heavy AM/FM radio listeners (81%) said they were "very likely" to sign up for a streaming service.
- Viewers say that online/streaming sources now consume most of their total time spent watching TV: According to Hub Entertainment Research, when asked how their TV viewing time is distributed, Americans say 60% of their time goes to streaming/online and 40% of their time is spent with traditional TV via live viewing, DVR, or video on demand.
- The younger the viewer, the less likely pay TV is the default viewing source: Only 14% of 18-34s say traditional TV is their default source for TV viewing, according to Hub Entertainment Research. Among 35-54s, only 34% say traditional TV is their default viewing source.
- Netflix is now the default TV service for nearly a quarter of Americans: Hub Entertainment Research's August 2020 study found 23% of viewers indicate Netflix is their default source for TV, only 7 points behind pay TV.
- AM/FM radio listeners are considering subscribing to 4.2 video streaming services: Overall, total U.S. consumers say they are considering subscription to 2.6 different streaming services. In contrast, heavy AM/FM radio listeners are contemplating even more services, an average of 4.2 offerings.
- Successful case study: AM/FM radio generates significant brand equity lift and purchase intention for a video streaming service: A Cumulus Radio Station takeover event generated a +50% lift in unaided awareness, a +13% increase in aided awareness, a +19% growth in advertising recall, and an impressive +43% rise in likelihood to subscribe.
