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Steve Forbes: ‘The Assault on AM Radio is Short-Sighted and Must Be Reversed’

“It provides a needed public and private service.”

Maddy Troy

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Steve Forbes, Chairman and Editor-in-Chief of Forbes Media, has recently addressed the issue of marginalization of AM radio in his latest edition of the “What’s Ahead” podcast, titled “Why AM Radio Must Be Saved – And How To Do It.”

Forbes joins other industry voices in advocating for the preservation of AM radio, which has been facing challenges in recent times. “The assault on AM radio is short-sighted and must be reversed,” Forbes says. “It provides a needed public and private service.”

He acknowledges AM radio has its issues – like sound quality, signal static vicinity, and down-trending listenership – but he argues that AM “clearly has staying power here and around the world. It is too important to be silenced.”

Forbes discussed Ford Motor’s decision to discontinue AM radio in new and updated models, as well as other electric vehicle manufacturers like Tesla not providing AM radio due to electromagnetic signal interference. “As the Ford move indicates, traditional vehicles with the internal combustion engine are slated for dashboards that don’t offer AM radio,” Forbes said.

The media veteran also makes the case for conservatives taking a stand to protect AM radio, he says, “Conservatives should be working overtime to save AM radio. After all, talk radio has been absolutely crucial for getting their views across in an otherwise increasingly hostile environment.”

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Media Business

Median Age of Podcast Users Nearly 30 Years Younger Than Cable TV

“The ascent of podcasting signals a shift towards on-demand content consumption that aligns with the lifestyles and preferences of younger generations.”

Barrett News Media

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A photo of a podcast user's cell phone

It is no secret that cable TV has seen the age of its viewers continue to rise. But the entire picture is coming into view when juxtaposed against other mediums like radio and podcast users.

A new report from Amplifi Media shows that the median age of cable news viewers is 70. MSNBC is 70, Fox News is 69, and CNN is 67. That median age means that more than half the viewers are actually older than 70 years old.

Network television isn’t a much brighter picture. In primetime, the median age is 64. FOX has the youngest number at 49.5.

However, the median age of podcast consumers comes in at 34.

Steve Goldstein, Founder and CEO of Amplifi Media, believes the drastically younger demographics of the medium make it an ideal platform for advertisers.

“The ascent of podcasting signals a shift towards on-demand content consumption that aligns with the lifestyles and preferences of younger generations,” wrote Goldstein. “We live in an on-demand world, and while other media are adjusting (think streaming apps and YouTube), podcasting has three not-so-secret ingredients that traditional media struggle to match: intimacy, flexibility, and loyalty, which makes podcasting an ideal platform for engaging storytelling, niche topics, and fresh takes.”

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Media Business

Majority of Media Advertising Projected to Be AI-Aided By End of Decade

Forecasts show that 69.5% of all advertising revenue will be AI-aided, while that number is expected to grow to over 90% by 2029.

Barrett News Media

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The rise of artificial intelligence in media has been a focus for several years. But the use of AI in advertising is just getting started, and a new study suggests it will influence the space in the years to come.

GroupM has released its This Year Next Year forecast. In its projections, it believes that AI will be a prominent tool in advertising optimization. By the end of 2024, it forecasts that 69.5% of all advertising revenue will be AI-aided, while that number is expected to grow to over 90% by 2029.

The company also projects that AI-generated content in advertisements will account for 1.6% of all commercials in 2024. GroupM believes that figure is likely to grow to 10.7% by the end of the decade.

While the organization forecasts an increase of $365.9 billion, up 5.8% compared to previous projections, it shows a 1.5% drop in revenue for terrestrial radio, according to RadioInk.

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Media Business

Broadcasters Foundation of America Set for Annual Giving Day Thursday

More than 1,000 broadcasters have been aided by the organization.

Barrett News Media

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A photo of the Broadcasters Foundation of America logo

The Broadcasters Foundation of America is set to hold its annual Giving Day on Thursday, June 13th.

For more than 70 years, the organization has supported broadcast radio and television professionals during challenging financial times. More than $20 million in grants have been funded by the foundation since its inception.

More than 1,000 broadcasters have been aided by the organization.

To donate to the fund, click here.

In addition to its Giving Day, the organization will hold a mixer at the iHeartMedia studios in New York from 5:30-7:30 PM on Thursday.

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