There is definitely a split in how much time younger people spend with radio, including whether they use it at all. As recently as 2016, persons 18-34 were just as likely to listen to the radio at least once a week as any other demographic group, 91%.
Research published this year by Westwood One says persons 18-34 using radio is down to 82%, and 85% for 18-49. Radio Industry News, Radio Show Prep, Radio Promotions, Radio Station Data, Podcast News
A separate study from Edison Research this spring found that half of all audio listening hours by persons 13-34 are to subscription content: Radio Industry News, Radio Show Prep, Radio Promotions, Radio Station Data, Podcast News