The New York Market Radio Broadcasters Association (NYMRAD) first-quarter 2017 “State of the Market Report” stresses that with a thriving city economy, companies have a formidable budget for advertising. In other words, NYMRAD could boast of good numbers for listeners and brands.
“The New York area has the largest number of radio listeners and in Q1 ‘17 that translated to nearly 15.7 million people—nearly 90% of the New York Metro each week,” said NYMRAD’s executive director Debbie Beagan. “When you combine that broad reach with the targetability that radio formats offer, plus the personal connection that listeners have for their favorite air personalities and stations, radio is clearly a great opportunity for marketers to connect with New York area consumers.”
Among categories that are offering the airwaves love is the pharmaceutical industry, which saw the largest employment growth year-over-year. Home health care services saw a 12.4% increase, and home and personal care stores had a 1.5% rise in employment. And so, NYMRAD reports, these companies are increasing their ad spend.
Specifically, as the industry turns research budgets into the launch of new prescription medications, as they are introduced to the market, “there is extreme pressure for the launches to succeed, and thus a need for advertising, including radio,” NYMRAD wrote in the report. “The research needed to launch a new prescription medication and the process of FDA approval are both costly, and patents are only valid for a limited number of years.”
In the New York Metro, radio listeners spent more than $17 billion in pharmacies and drugstores in 2016. “Pharmaceutical and health ads on radio are proving effective,” NYMRAD suggests. As a result of health ads over the past year, 30% of local radio listeners 18+ made an appointment to see a doctor; 12% bought a non-prescription drug because of health ads; 8% asked their doctor to prescribe a specific drug for them; and 7% discussed a particular health commercial with a friend or relative.
Overall radio listenership in New York is up 1.45% from Dec. 2016-Jan. 2017.
NYMRAD says that there are 16,350,800 listeners in New York as of spring 2017—with an ethnically diverse population.
New York Radio listeners are also big on the professional service category. NYC radio listeners spent more than $71 billion on professional services in 2016. The most-used professional services by New York radio listeners 18+ are tax preparation services (27%), accounting (18%), financial planners (13%), cash checking (10%) and travel agents (9%). Those listeners spent $34 billion on lawyers, $10 billion on CPAs and tax preparation services, and $2.9 billion on payroll services in 2016.
Add to that, among New York City radio listeners, 6.5% have been on a spa vacation in the last 12 months or are planning to go on one in the next 12 months, while 8% have used a day spa in the last 12 months, and 5% have used a day spa in the last 3 months.