Two New Studies Reveal Growing Interest in Cryptocurrency

Two New Studies Reveal Growing Interest in Cryptocurrency

Cumulus Media

Two new studies commissioned by the Cumulus Media | Westwood One Audio Active Group reveal a growing consumer interest in cryptocurrency. The first study was conducted by MARU/Matchbox in January 2022 among 1,023 average Americans. The second study was completed by MESH Experience in December 2021 on behalf of a major financial firm focused on high investable asset individuals who have at least $500,000 of investments. This week’s blog outlines the key findings.

• 26% of Americans have researched using cryptocurrency as a form of investment; The 21% of Americans who intend to invest in the next six months skew male, 18-49, and over index on podcasts, social media and AM/FM radio.
• Among individuals with $500,000 of investable assets, cryptocurrency intenders skew young: 57% of crypto intenders who are high investable asset consumers are 35-54.
• Crypto intenders who are among the high investable asset segment over index on AM/FM radio and are far less likely to be TV viewers. MESH Experience finds that high investable asset consumers who intend to invest in crypto are much more likely to be employed.
• 19% of Americans say they are extremely or very familiar with cryptocurrencies such as Bitcoin and Ethereum: Podcast listeners (31% extremely/very familiar), heavy AM/FM radio listeners (25%), and heavy social media users (24%) show greater awareness than the total U.S.
• Robinhood, Coinbase and Crypto.com are the three best known cryptocurrency exchanges with stronger awareness among social and audio listeners.
• Risk is the biggest reason people don’t plan to invest: Advertising copy for TV and AM/FM radio needs to acknowledge risk concerns.
• Current crypto media plans are split between TV and social media. Based on the media habits of crypto intenders, the optimal media plan allocation is social (43%), audio (37%) and TV (19%).
• The leading podcast genres for crypto media plans include News/Current Events, Sports, Music, Entertainment/Culture, Politics, and Comedy.
• Male-skewing formats such as News/Talk, Rock, and Classic Rock make up the top three AM/FM radio programming formats for a crypto buy; closely following in allocation are Top 40, R&B & Hip Hop, Oldies Classic Hits, Adult Contemporary, and Sports.