The buying power of African Americans is forecast to reach $1.8 trillion by 2024 and smart advertisers will choose strategic positions on radio for a bigger share. A radio presence is even more important because the median age of all African Americans is 32, compared to 38 for the entire US population, and 54% of African Americans are younger than 35 – an opportunity to engage with and retain a younger audience for decades.
Data from five representative 2021 market surveys conducted by The Media Audit shows more than 50% of African Americans adults 18+ listen to at least one hour of radio daily and equal to or more than the other major ethnic groups.
“What is particularly interesting about the data in the table above is larger percentages of African Americans listen to at least one hour of radio daily than Caucasian Americans as well as Asian Americans,” said Nick Miller, VP, The Media Audit. “In addition, a 2020 Nielsen study reported 39% of African Americans 18+ said they spent more time with radio because of the pandemic, compared to 24% for Caucasian Americans 18+.”
When The Media Audit data on African Americans 18+ who listened to at least one hour of radio daily is analyzed by age group, in almost all five of these representative markets the largest percentages are those in the all-important 25–44 and 45–54 age groups. These are Millennials and Gen Xers buying homes, vehicles and the whole array of consumer products and services – and they are reaching the peak years of their careers and incomes.
To increase their share of African Americans’ buying power, advertisers are also showing their support for social, political and economic equality that is so important in the entire African American community.
According to Nielsen’s 2020 report, Power of the Black Community – from Moment to Movement, 58% of survey respondents are more likely to expect this support, compared to 4% during 2019. That commitment also leads to spending, as 37% are more likely to be customers of these supportive brands and retailers, a huge increase from just 1% for 2019.