But what - exactly - is radio doing to attract that early 20's Drake fan I mentioned above, or the late 20's fan of Kendrick who turned me onto the (now a decade old) album "To Pimp a Butterfly?"
Nothing much. It is obvious that the youngest demos will not listen to ad supported radio for music. There are opportunities with some of the syndicated morning shows, but that does not really work the rest of the day.
Of course "the kids today" aren't going to be wowed by bumper sticker campaigns or "ten songs in a row" the "wacky morning show with funny parody songs" but while Mr. Tuna may be in his "late 60's and beyond," what's your age and why does it make you an expert on what a 20-something considers compelling content?
I do whatever a target group of listeners tells me to do. It is called "research".
A good example would be an FM I was given to program some years back. It is in Buenos Aires, Argentina, the second largest metro area in our hemisphere. I had never lived the, but had visited many times going back to the mid-60's.
Research told us the best format (audience size and income level) was 100% locally produced Argentine rock. I knew nothing about that. But we did the deepest music test I've ever been involved with. We debuted with less than a month on the air #1 with an 18 share, and got to over a 20 share the next month. In "average persons" that meant the most listened to station in the Western Hemisphere.
From what I've been able to gather, you're not exactly a spring chicken,
And the station this non-spring-chicken programmed is still in the top 4 or 5 26 years later. I asked listeners what they wanted and gave it to them.
and from where I sit I'm not seeing radio companies (at least domestically) stampeding to attract the 18-24 demo.
Very smart. Stations can move content to streams and even create podcasts out of their OTA content. Or they can take the money as long as it continues to arrive and sustain the existing format with minor adjustments.
More to the point, what does "radio" offer that can't be served better elsewhere?
There are some issues like station personalities, live mixes done in real time, contests, and even old stuff like weather and traffic. Surprise, but some folks like news, weather, scores, songs, an entertaining host and such all in one place. That is why nearly 90% of adults use radio at least a little bit each week.
Will it last forever? No. But while it makes money, we are not going to leave it on the table. Remember, radio's issue is old debt, not operational losses. Radio generally has profits on operations. It is that consolidation era debt that is the killer, not programming.
The company I work for doesn't advertise on radio. The merchants we work with don't advertise on radio. There is no "radio outreach" division of the company. It's not even on their radar. What is "the radio industry" (writ large) doing to change this? Because I'm not seeing it.
That has always been the case since radio "died" when TV came on the scene... over 70 years ago. But enough advertisers do find radio to have the best reach and efficient costs... enough so to dedicate part of their budget to the medium.