“If young people are the voice of the future, then terrestrial radio is in trouble,” concludes eMarketer.
New reports show radio listening has dropped by half over the past 10 years, while Internet Radio has climbed.
In 2000, teens and young adults were listening to the radio almost 3 hours a day, but by 2010 they listened only half as much or 1.5 hours. At the same time Internet usage tripled from 1 hour to almost 3 hours a day, said the Edison Research report on radio’s future.
And Internet Radio listening is climbing. In 2010, 36% of consumers surveyed by Bridge Ratings had listened to Internet radio in the past week; compared to 7 percent in 2006.
Pandora has the lead in Internet Radio with 42 percent of those surveyed having listened to it in the past year. The next closest competitor Rhapsody showed only 6 percent of respondents listening in the past year, according to Vision Critical.
Radio is not dead, its just suffering. Half those surveyed said they still listen to it frequently to find out about new music, said Edison Research.