60 Is The New 40

Remember that old saying, "Life Begins at Forty?" It implied that when you reached that age, you arrived in a "comfort zone" with the maturity to enjoy the second half of your life along with all the wonderful things it had to offer.  So, I believe, it's safe to assume that this new numerical expression, "60 is the New 40," can logically be transformed to read, "Life Begins at Sixty," which is a significant and helpful message for those of you who own, manage and program radio stations...especially if you're operating some poor, performing properties.  The current phrase offers that the population, 60 plus, is not a sedentary one but rather a segment of our population that is active, responsive and constant contributors to our nation's economy and social interactions.

I believe that it's safe to say that there are a variety of factors that have impacted radio's flat or declining revenues. None more important than this: "According to the Future of Music Coalition, the amount of time Americans spend listening to radio is at a 27-year low, and the number of listeners has dropped 17% in the last 13 years."

Where have all the listeners gone? And why?

Obviously, the "new media" has siphoned off listeners, with the younger demographics, in my opinion, taking the biggest hits. But radio, itself, has to shoulder some of the blame.

Has local radio lost touch with its listeners?  Has radio ignored any existing and/or emerging demographic trends? Have troubled stations evaluated the content of their programming as it relates to their audiences? Has radio lost its desire to do what it does better than any other mass medium...relate to and be an active participant in local communities?

This article is directed primarily at those stations experiencing revenue reversals and listener losses. And, "60 is the New 40," may be one of the keys to unlock some new opportunities for attracting listeners and advertisers and, by doing so,   improve the bottom line.

Questions

For those individuals who are now sixty and better, who grew up listening to their favorite music and recording artists on radio, where is today's terrestrial radio format that is programming the music, entertainment and informational needs of their lives?
 Where can the sixty-plus population listen to the music from the golden age of American music composers...the likes of Gershwin, Berlin, Mercer, Rodgers and Hart, Arlen, Warren, Carmichael and dozens more talented song writers of the '40s, '50s and '60s? What existing format features these favorites: Frank Sinatra, arguably, " the most iconic performer of our time," Dean Martin, Nat Cole, Bing Crosby, Perry Como, Bobby Darin, Doris Day, Patti Page, Ella Fitzgerald, Peggy Lee, Sarah Vaughn, Dina Washington, the big bands of Basie, Ellington, Miller, Goodman, James, Kenton, the Dorsey’s, Perez Prado, Tito Puente, in addition to, the Mills and Ames Brothers, the Andrews and McGuire Sisters, plus popular tunes from the movies, Broadway shows, and the list goes on.

Among today’s free radio formats, with the exception of some public radio stations that program music from "The Great American Song Book," and possibly some special "Oldies" format, where can our older generation listen to music that is meaningful to them... music that they can relate to and enjoy?

Convincing the Skeptics

Over the past three or four decades, media buyers and advertisers, in general, have subscribed to the "Holy Grail" that if you wanted to sell products and services, you targeted your message to demos within the 18 to 49 age bracket...and, in some special situations, to those in the 39 to 55 segment.

As such, radio formats have been created to reach these various, popular audience groups. Therefore, today, in any given major market, you'll find a combination of Adult Contemporary, Contemporary Hits, Hard Rock, Soft Rock, Classic Rock, Urban, Country, News/Talk, Sports plus variations of these formats, to entice the desired demos and prospective advertisers.

However, just as today's media landscape is changing and continues to change, so has the entire demographic picture.

Unfortunately, those in the position to make programming changes have knowingly or unknowingly forgotten, neglected or ignored a vibrant, vital and relevant audience, one that is the fastest growing population in the United States today. And its numbers will grow even more rapidly when the first "Baby Boomers" reach 65 in the year 2011.

The Deserted Demographic

Did radio desert the older population? Or did the seniors flee because they couldn't find their kind of radio entertainment?

Let's take a trip back to the 1960s and 1970s. During this period, we find that radio did, in fact, make a concerted effort to persuade the elderly audience to tune in. At that time, management and programmers presented syndicated formats, such as "Music of Your Life" and "Unforgettable" to keep the "mature" listeners entertained and informed.
These and other similar offerings didn't last too long, in my view, for a variety of reasons. Among them: the difficulty of convincing advertisers to purchase an older demo. Also, station officials and staff members spent more time and effort concentrating on attracting the younger audiences.  And, along with these factors, there was little or ineffective station marketing. Contributing, too, was the inability to convince younger media buyers the benefits of reaching this demo.

Gray Matters

Fast-forward now from the '60s and '70s to the 1990 US Census. It revealed that the population, 65 years and older, was over 31 million and comprised 12.6% of the nation's population. One decade later, this report showed that the senior segment grew to approximately 35 million. Add to this, the fact that more and more seniors are continuing to work long past the so-called normal retirement age of 65. To prove this point, in 1986, 19.2% of seniors, 65-69 were still in the workforce. Compare those numbers to 2006 where the percentage jumped to 29%. And in this same year, those in the 70 to 74 age bracket, had 17% of their population still working. You also can check your computer for all the various websites directed at attracting the older, reliable workforce.

In my opinion, it's obvious that the growing numbers, in this demographic; contain a positive message and a rare opportunity for operators of radio stations.

"With people remaining healthier and more vibrant as they age, they are going to be contributing to society and the economy for a longer period of time." And radio, I feel, should take advantage of this situation.

America's Idle?

America's 60 plus generation is far from idle. However, many radio station owners, managers and programmers assume, and wrongly so, that this population, comprised of individuals 60 years and over, is one that is inactive and uninvolved with little or no money to spend. If this be the case, then they also must believe that these individuals do not grocery shop, visit the pharmacy, eat out, go the movies, travel, buy clothing, purchase or lease new cars, play golf, tennis or other sports, invest in stocks, acquire some type of retirement real estate, etc., etc., etc.

If one believes the above premise, then why are enterprising, aggressive retailers, services and a variety of companies catering to this market by promoting Senior Days and offering Senior Discounts on everything from cruises, bus tours, hotel/motel accommodations plus a plethora of other goods and services?

The answer is clear. Or should be.

 A great number of this growing population has money to spend, and, in most cases, the available time to take advantage of these attractive offers.

The Age of Opportunity

Many of you in the radio industry may contend that the Telecommunications Act of the early 1990's, along with the introduction, growth and increasing popularity of the "new media," are but few of the major factors contributing to radio's current status and, as such, presenting serious challenges. Add to this, the genuine fear that this "new media" may, in the near future, replace the effectiveness and relevancy of radio as we've come to know it.

In answer to you legitimate concerns, and to dispel any anxieties and doubt, I recall a parallel situation that occurred during the early glory days of radio when this new, upstart medium captured the attention and imagination of millions of loyal listeners. It was reported, back then, that a very successful and prominent newspaper publisher was asked if radio would ever replace newspapers. To which the publisher quickly replied, "Never! Because you can't wrap a fish in a radio."

Although his response seemed rather flippant, it does contain, in my opinion, a valuable insight. And that is, each medium has or can determine its place and unique niche in the world of communications and entertainment.

You may not be able to wrap a fish in a radio, but radio has other qualities and advantages that other media do not possess.

Challenges exist and will continue to exist for the radio industry. However, with challenges come opportunities. And this is the appropriate time for radio to refocus, recharge and take advantage of any plausible and realistic opportunity that presents itself.

A great deal of evidence, in my view, convincingly indicates that the 60 plus generation deserves a radio voice.