According to several studies I’ve seen, plenty of Millennials (Generation Y, those born 1980 and after) would rather have a smartphone than a car. And if they’re not driving, that’s one less place where they can listen to the radio.
Audio4Cast takes a look at the situation.
It’s a sea change that has implications for all kinds of other business segments as well – including standard brick and mortar retail, and radio. AM/FM radio built its relationship with generations of listeners by virtue of its front-and-center placement in the car.Millenials lack-of-love affair with the car means they are less exposed to AM/FM radio as well.The importance of a smartphone in the lives of this generation of younger adults has impacted radio in other ways – millennials don’t wake up with an AM/FM alarm clock, and they discover music via social networks rather than by hearing their song on the radio.