Goat Rodeo Cowboy said:
You are much too flippant with the term "geezer formats".
I frequently use hyperbole, slang and colloquialisms to make points or to make a point more noticible. This is one of those times.
The fact is that in the medium and larger rated markets, agency buisness is essential to radio, and there is essentially no agency business for 55 and over. That is something radio is not going to change, as the dictate is based on ROI, not stereotypes.
If the ROI on advertising to, say, 55-64, changes, we will se agencies buying older demos and, thush, statins looking for formats that appeal to 45-64 or 35-64. For the moment, stations that have that appeal are going to be in small markets or suburban areas and will survive on 100% direct business... fine in the smaller markets, but really tough in big markets.
In large markets, the local direct business is too small to use radio unless it has multiple locations. A single location retailer or service provider in LA is getting population coverage that is 90% useless while one in Bishop is getting good coverage and price efficiency. That's why local direct accounts use geographically segmented cable, direct mail, local neighborhood pring, etc., in such situations.
Our society, our economy, our broadcast industry has not yet adjusted to extended life-spans. Have you seen the commercials on TV by T. Boone Pickens announcing his support and investment in alternate energy sources. Vibrant good looking man! Committing billions (with a B) of dollars to a whole new business venture. The man looks like he might could kick both our tails on the golf course. The man is 80 years old. Someone didn't clue him in that geezers should crawl in a hole and zip it up behind them.
It's not about age or vitality per se... it's about ROI... how many ad impressions it takes to change the consumptionpatters of an older person. In general, the ROI is not good.