ARN has released research that revealed that 2 in 3 people (64%) lack confidence that the Australian economy will improve this year and the same number are confident that it will indeed crash and burn (63%).
In addition, 82 per cent of respondents believe interest rates will continue to rise, but over half (59%), agree that their employer will look after them during this time.
“Tired, numb, stressed and (m)eh” were the enlightening words used to characterise how they were feeling about the year which in part could explain the record level of audience engagement with breakfast radio which is up 19 per cent to more than 3.3 million (compared to 2.8 million a year ago).
According to Duncan Campbell, ARN’s chief content officer: “In tough times we know people like to escape and we see the use of music radio increase as we are now – whether it be to stations like WSFM to hear the songs they know and love from better times, to the fun of Kyle & Jackie O on KIIS 1065.
“Music radio is one way people escape the day-to-day impact of these tough economic times. Our talent know and understand that, and the content on-air reflects the desire of the audience for content that is light and provides relief from the financial stress being felt throughout the community.”
It’s proven that people turn to radio as a source of light-hearted entertainment and the emotional benefit of this engagement transfers to the brands that advertise in these positive environments. 31 per cent of people choose to listen to audio because “it brightens their day” compared with just 24 per cent and 15 per cent respectively for video and social media.
The role that radio plays, as a trusted, reliable companion, particularly when we’re down in the dumps, is reinforced by the timely increase in audience volumes year on year. The results from GFK Metro Radio Survey 1 revealed a 12.7 per cent year on year increase in the number of Australians listening to ARN – a number outstripped at the time of day when people are feeling most exhausted on the way home from work, as drive time listenership increased by 16.2 per cent to over 2.8 million people.
This research is the most recent edition of ARN’s successful audience and commercial insights series – Australia Unplugged. The first edition for 2023 covers the Mind & Mood of the nation and provides marketers with insights that enables their brands to engage more effectively with their target audience across ARN’s range of audio and digital assets.
