Additionally, the survey found that 29.8 percent of Hispanics listened to Internet radio in the past week, suggesting nearly the same amount are logging on weekly as they are in a typical 30 day period. While some terrestrial radio stations do better than others in terms of converting weekly listeners to loyal frequent listeners, it would appear that Internet radio is headed in a positive direction. With 91 percent of Hispanic monthly Internet radio visitors listening on a weekly basis, the preliminary data suggests that many Hispanics are becoming loyal to Internet radio listening.
Among all adults in the same top ten markets, 22.8 percent reported having listened to Internet radio within the past week, making Hispanics 35 percent more likely to be listening to Internet radio when compared to the general population.
The findings reflect the growing importance of Hispanics who now total 50.5 million or 16 percent of the total U.S. population.
Year-Over-Year Growth in Internet Radio
The figures represent a dramatic change in Hispanic Internet radio listening behavior from a year ago, when only 13.5 percent of Hispanics listened to PANDORA. As a result, the year over year growth rate is 142 percent for Hispanics accessing PANDORA.
Internet Radio Competitive In Top Hispanic Markets
The study further found that among top Hispanic radio markets, PANDORA and iHEARTRADIO remain competitive when compared to Hispanic-programmed local radio stations that heavily focus on the Hispanic market. In LOS ANGELES, 25.9 percent of the metro area's 3.9 million Hispanics reported having listened to PANDORA within the past week, a figure that represents more than 1 million weekly listeners and topping weekly listening of all Hispanic-programmed stations or radio clusters.
Combined with the fact that more than half of Hispanic consumers are now accessing web content via a smart phone or a connected device such as an iPAD, the findings suggest a narrowing digital divide between Hispanics and Caucasian consumers, thus making them more attractive to mobile and digital marketers.
It is estimated that by 2050, the number of Hispanics in the U.S. will grow to 132.8 million, thus strengthening the group's collective purchasing power, which is estimated to reach $1.4 trillion in 2013.