Pay TV, while newer, has faced more significant declines. Pay TV penetration, on the other hand, fell 20 percentage points between 2014 and 2023, according to data firm Statista. In the third quarter of last year, the pay TV industry shrank at a record pace, analysts at MoffettNathanson said in their latest cord-cutting report. "Terrestrial radio has stayed steady even as other mediums like satellite radio, podcasts and Apple CarPlay have come on board," said Guggenheim media analyst Curry Baker. Contests and sweepstakes represent another unique draw to terrestrial radio.

---

Persons: It's, MoffettNathanson, Curry Baker, Baker, Elvis Duran, Ryan Seacrest, Sean Hannity, Tom Poleman Organizations: Pew Research, Apple, Guggenheim, Cable, Conservative, Fox News, CNBC Locations: U.S, Los Angeles