Question: With the people living longer, healthier, active lives, isn't it possible that to have successful older demo radio station, with appropriate advertising that appeals to the demo? We'd have to get rid of the 54 year old advertising demo ceiling (isn't that age a bit dated as the cut off point)? I'm sensing the reason this hasn't happened is that the Corporations (Cumulus's of the world), who are run by middle aged guys don't want to take a risk on something like that. But as this huge Boomer demographic ages, isn't there an opportunity out there?
I asked all those same questions a few years back, and was then schooled by the likes of David Eduardo and KM Richards. It seemed to me, as it does to you, that the Baby-Boomer generation are generally affluent, and still have (as you point out) a good two decades of life left in which we will be spending money. But one big factor seems to be that we are set in our ways. If we have owned three BMWs, it is likely that we'll go for a fourth, so advertising from Lexus and Mercedes to try to get us to switch is more likely to fall on deaf ears. Also, those big ticket items are more effectively advertised on TV, where we can see them.
As far as other (lower end products), not only are we stuck in our ways, but we tend to use less of them as we get older. For example, I use toothpaste, bar-soap, and deodorant, but no other hygiene products. I haven't needed shampoo for a long time now…sadly.
There actually is an ever-growing tsunami of boomer-focused advertising, but that’s for prescription drugs, supplements that purport to relieve knee and arthritis pain (probably mostly useless), step-in bath tubs, and mobility devices. I assume that's because we boomers are the largest aging generation in US history, will be living longer than our predecessors, and will be needing those things as we age. But again, except for prescription drugs, most of these products are advertised exclusively on TV. And that’s why Chuck Woolery still gets work. : )
If you're old enough to remember the 60s - the big non-youth radio music formats of that decade were "beautiful" music and MOR - and that stuff was either contemporary recordings at the time, or went back no more than the a decade or so to the early 50s. I don't remember hearing 1920s or 30s music on the radio in those days, and that would be the equivalent (in terms of age) to 60s and 70s music today. Those formats died in the 80s when their target demo was hitting their 50s and 60s. Big band music and MOR made a comeback on radio in the late 80s and early 90s, but it was usually on under-utilized AM stations, never got big ratings, and didn’t last long. So really, the slow death of Oldies, Classic Hits, and AAA on the radio was predictable.