There’s a solid business case for Soros’ push into audio. While the radio industry declines and podcast advertising stalls out, the audience for audio remains strong. Nearly a third of all media consumption is audio, and the majority of in-car listeners are still tuning into radio. Listeners tend to pay more attention to ads and have more trust in the advertiser in audio than in other formats.
But Soros’ media moves could have an impact on this year’s elections. Where conservative-backed companies dominate local television and have subtle but notable influence over the tone of their content, Soros’ ownership could also prove pivotal. How, for example, would the fund react if the radio hosts on conservative stations, such as Philadelphia’s 1210 WPHT, second-guess valid electoral results come November?
A spokesperson for Soros Fund Management did not respond to an inquiry posing that question. A person familiar with the company’s thinking told Semafor that it is generally annoyed by coverage of the fund that casts its moves in a political light, noting in particular that the vast majority of Audacy stations are dedicated to sports and music, not news programming.
Whether ideology plays any role, Soros is following a format that Democratic communications officials