Several Westwood One studies have found the same thing to be true: audio is a better driver of brand success in the financial services division than television.
The data from seven separate studies by Westwood One shows that audio listeners are much more likely to have investments over a broad array of classes and are more likely to invest in major financial brands.
Additional data shows that those “thriving” financially are 44% more likely to be heavy AM/FM radio listeners. Those heavy AM/FM radio listeners are also more likely to be investing actively and report more engagement with the financial sector than those who spend more time with television.
Talk radio listeners were especially more likely to buy insurance and financial products in the next year when surveyed. The top four formats when asked about their plans were NPR, news/talk, and all news at 58%, while sports talk was at 56%.
33% of heavy AM/FM radio listeners say they are somewhat or very likely to be in the market for a new or additional financial services firm. Only 11% of heavy TV viewers said they were in-market.
Meanwhile, 56% of heavy AM/FM radio listeners say they “enjoy learning about financial products and services from others” versus only 45% among heavy TV viewers.
Despite the advantages that audio advertising offers, only 4.8% of advertising from financial brands was spent with AM/FM radio, the Westwood One data shows. 49.1% of the spending came in the television sector, while digital media earned 43.6% during the 2024 year.
Barrett Media produces daily content on the music, news, and sports media industries. To stay updated, sign up for our newsletters and get the latest information delivered straight to your inbox.
