Some interesting stats coming out of the Kagan Radio/TV Summit in New York. The CIBC World Markets director of research says radio can expect an overall 2.5% annual radio audience decline this year owing primarily to iPods and satellite radio.
According to independent research commissioned by Sirius, once consumers get a Sirius radio, they spend 83% of their radio time with Sirius and 7% with traditional radio. So whats commercal radio to do? According to the presentation: Increase local content; upgrade national sales efforts; get better research data; Hire TV people (“they know how to sell in a declining market.”)