Author: Annette Malave, SVP/Insights, RAB
Over the next 20 years, the U.S. population will be comprised mostly of multi and intercultural individuals according to U.S. Census population projections. This growth is attributed to the increase in the number of Asian, Blacks/African Americans and Hispanics/Latinx in the country and is being viewed as the catalyst of brand and revenue growth by advertisers and marketers alike.
Combined, these groups are projected to yield a buying power of $4.7 trillion by the year 2020 – up from $3.8 trillion in 2017, according to Nielsen. Despite this projection, the dollars spent to target and advertise to multicultural consumers remain relatively low. While 37% of the U.S. population was comprised of Asian Americans, African Americans and Hispanic Americans in 2018, only 6% of advertising and marketing dollars were targeted to these segments, according to a study compiled and presented by Dr. Leo Kivijarv of PQ Media at the 2019 ANA Multicultural and Diversity Conference.
Continue reading “Culture is Driving Growth”
Gen Z refers to the generation of individuals born between 1996 and 2010. Representing over 25% of the U.S. population, this is a generation raised entirely on the internet and social media. They are beginning to enter the workforce and they are a desired demographic as consumers of our products and services.
In this edition, Erica Farber, President & CEO of the RAB speaks with Mark Maben, General Manager of WSOU 89.5 in South Orange, NJ. Owned by Seton Hall University and operating for 71 years, this non-commercial station is managed by a team of nine students who report into Mark and is staffed with an additional 120 students from the university. This year Seton Hall University had a record number of students attend the Radio Show as part of the Student Scholar Program and, just as important, they are seeing an increased level of interest from the students in the overall audio space.
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Contributors: Brad C. Deutsch, Principal, Foster Garvey, P.C. and Benjamin J. Lambiotte, Principal, Foster Garvey, P.C.
Just as the 2020 federal election campaign shifts into high gear, on October 16, 2019, the Federal Communications Commission issued two significant orders “clarifying” broadcasters’ political public file obligations in response to complaints filed against several stations. In both orders, the Commission made it very clear that it is station licensees – and not political ad sponsors or their ad buyers – who are responsible for ascertaining, collecting, and uploading in a timely manner to the FCC online political public file, all the information required by Section 315(e) of the Communications Act and the FCC’s political broadcasting rules.
Continue reading “Keep Your Files in Order”