Geoff Mayfield From the launch of television in the 1940s through the advent of MTV in 1981 and multiple threats from shiny new technologies, radio has survived many challenges to its business.
But can the medium navigate competition from streaming? In an era when streams account for 85% of U.S. labels’ music revenue and other, newer media is finding favor with consumers, a reckoning is taking place as music executives evaluate traditional radio’s place in the pecking order.Make no mistake, AM/FM radio still owns the largest piece of America’s audio pie, according to Edison Research.
Its 2020 “Share of Ear” report says terrestrial radio accounts for 39% of audio consumption among those 13 and older, compared to 18% clocked by streaming.
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