Actually, we are in control of the bulk of consumer spending, but we don't make many impulse purchases, nor do we spend money on what could only be described as the crap they advertise on the radio. 18-34 year olds buy the concert tickets, eat the fast food, buy the big screen TV's and the fashionable clothes, change vehicles like their underwear, and go to the night spots. 35 to 54 year olds are putting kids through school, fixing the old car so it will last another year, saving for retirement, and paying off all of the stuff they bought when they were 18-34. 55 and older, well we just spend our money on mutual funds, occasional vacations, doctors, and grandchildren.
There is so much competition for the 18-34 year old spenders (Hip-Hop & Pop), that the market is saturated. If a station wants to graze around the edges in the higher age groups, they are basically left with news-talk or so called oldies, and news-talk tends to reach a broader audience.
Like GD, I have jumped ship to mp-3 players and XM radio. There is nothing for me on the FM dial. There are maybe a half dozen or so XM stations that I love, and another half dozen that run great special programing. I held out and got it for $9 per month plus $3 for internet radio. I find that a much better deal than Netflix.
