Advertisement |
Futuri Study Reveals Permanent Changes to Media
RADIO ONLINE | Thursday, September 16, 2021 |
Futuri, led by CEO Daniel Anstandig, revealed a selection of key findings from its "Future of Audience and Revenue Study" with SmithGeiger. The study revealed tectonic shifts in how Americans perceive, consume, and pay for media content, as well as media executives' predictions for the sector and confidence in their ability to address emerging challenges.
The study explored five key verticals: radio, TV, social media, digital publishing and eSports, sports & betting. It polled more than 2,000 Americans, nearly 200 media executives specializing in radio, TV and digital publishing, and focus groups with 100+ media consumers. The findings include:
- Audience habits are shifting fast. Even Q1 vs. Q2 2021 showed accelerated growth in digital adoption.
- The meaning of "radio" and "TV" has completely evolved. In every case, the 100+ media consumers in focus groups brought up non-broadcast content when asked to describe their experience of "radio" or "TV." Consumers used the terms interchangeably with a variety of audio and video sources.
- Local radio and local TV are considered reliable for clarity and facts. Among a wide range of audio and print brands, consumers named local radio as the most reliable source for clarity and facts (45%). Looking at TV brands, local TV ranked highest with 50%, exceeding network TV, news aggregation sites, and social media. A majority (65%) of HHI $100k+ Americans depend on radio for their pandemic news, demonstrating the medium's importance for critical updates on the pandemic. Local TV ranked #3 with this group (62%), slightly behind CNN (63%).
- Consumers want more content. 57% of Americans watched streamed content more often over the past few months. 51% watched TV more often, 48% used social media more often, and 30% listened to local AM/FM stations more often.
- Content consumption grows while content teams have been downsized and reshaped. 83% of content leaders noted reductions in content-related headcount, and more than half noted their responsibilities have changed in the last year. This is nearly double the impact noted by sales- and corporate-level executives in other areas of the business. Content teams being downsized at a time when content consumption is at an all-time high is a clear call to leverage technology for more efficient and targeted content creation.
- Media execs are nervous about the future. The study showed numerous gaps between emerging issues media executives considered to be important and their confidence in the industry's capability to address them, pointing to the need for meaningful change. For example, 84% feel it's important to respond to new and disruptive competitors, but only 54% feel confident in the industry's ability to do so.
"This study reveals tectonic shifts in how media is being produced, perceived, consumed, and purchased across all levels of society and media," said Futuri Media CEO Daniel Anstandig. "The message is very clear to media executives: now is the time to accelerate innovation to keep pace with media's evolution, or risk being left behind."
The study also explored the impact of self-driving cars, 5G, broadcast and streaming radio, music streaming, eSports, gaming and more. Register to receive a white paper that dives deep into the research and insights at here. The white paper will be released on Thursday, September 23.
Daniel Anstandig will present a webinar with takeaways and action steps for using this information to grow content, audience and revenue on Tuesday, October 12, at 2p ET. Registration is open at here.
Advertisement |
Latest Radio Stories
AWMF Unveils 49th Annual Gracie Awards Winners |
Study: Core Commercial Radio Fans Weigh in on AI |
Listening to Podcasts and Online Audio Hit New Highs |
Advertisement |
iHM Announces Partnership Extension with D.C. United |
CMN Promotes Robert Blum, Tyler Brewer & Chris Kleiber |
Matt Pinfield Joins The SoCal Sound for Afternoons |