March 13, 2025
A host of platforms from Instagram, Reddit and TikTok to Spotify, Peacock, Paramount+ and ESPN+ gain traction among older cohorts
Like colors in a crayon box, marketers targeting advisors have an increasing array of mediums to pick from to direct their advertising spend. According to a new report released by Cogent Syndicated, demand for business and financial news on social media platforms is rapidly accelerating across all advisor channels, and advisors of all ages are increasingly comfortable streaming audio and video services. This makes the opportunities for marketing to advisors seemingly endless.
In fact, a half-dozen social media platforms have successfully grown their overall advisor reach in 2024: YouTube, Instagram, Reddit, TikTok, Pinterest and Snapchat. Reddit (31% vs. 20% in 2022 and 22% in 2023) achieves sweeping momentum across all advisor cohorts, with sustained growth among Millennial advisors. YouTube upholds the largest footprint (82% vs. 78% in 2022), while LinkedIn remains advisors’ primary social media source (43% vs. 48% in 2022 and 46% in 2023).
Interestingly, while Millennial and Gen X advisors cite the greatest social media adoption, 1st and 2nd Wave Boomers are fueling the heightened advisor adoption. 1st Wave Boomer advisors have expanded their reliance on Facebook, Instagram, Reddit and TikTok. Reddit is being tapped more frequently by Gen X and 2nd Wave Boomer advisors, as is TikTok among Millennial advisors.
An analysis of audio steaming providers reveals Spotify is beginning to distance itself from SiriusXM as the primary audio streaming source of financial news among advisors, making advertising decision-making a little clearer within this medium. In fact, Spotify is actively streamed by more than one-third of advisors (35%, up from 31% in 2023) and is considered the go-to source by more than four in ten audio-streaming users (42%, up from 35% in 2023).
SiriusXM ranks second in overall reach but incurs fewer primary-source mentions (25% vs. 32% in 2023). Millennial advisors are ideal advertising targets on Spotify (71%). While Boomer advisors generally favor SiriusXM, Spotify use is trending higher among 1st Wave Boomer advisors (19% vs. 11% in 2023).
Video streaming services, meanwhile, offer an abundance of unlimited advertising potential, with Netflix and Amazon Prime Video at the helm of demand at 71% and 69%, respectively, and Hulu, Max, Peacock, Paramount+ and ESPN+ gaining viewership in the overall advisor market. Even more importantly, the generational gap in subscribers is narrowing, suggesting advisor marketing is likely to become increasingly effective with less segmentation required in the year ahead.
1st Wave Boomer advisors are now averaging 2.9 video streaming providers per month, up from 2.5 in 2023. While Millennial advisors continue to lead overall consumption (averaging 4.2 services), they have dialed back their use of Amazon Prime Video, Showtime and Discovery+. Peacock achieves the most widespread growth among the Gen X and Boomer cohorts. In addition, 1st Wave Boomer advisors cite higher adoption of Amazon Prime Video, Paramount+ and ESPN+.
With Spotify gaining prominence and an array of social media platforms and video streaming services achieving greater reach, our latest advisor marketing data underscore the vast opportunity media buyers must consider in addition to other mediums such as TV networks, print publications, websites, mobile apps and podcasts.
For asset managers, knowing where and when financial advisors are consuming media helps justify the millions of dollars asset managers spend on media budgets. Whether it’s an annual read through our Annual Media Consumption Advisor Summary, published this month, or a monthly look through our Media Consumption portal, we have you covered. Click below to learn more.
Sonia Davis
Senior Product Director, Cogent Syndicated
Sonia is a senior product director for Cogent Syndicated with more than 12 years of market research experience. She has managed numerous qualitative and quantitative studies in financial services industry research, as well as the hospitality, consumer packaged goods and retail sectors. Prior to Escalent, Sonia served as a community manager for C Space, a public relations specialist for Putnam Investments and as a staff reporter for Community Newspaper Company. Sonia earned an MBA from Boston University School of Management and a bachelor’s degree in communications from Simmons College. She’s a proud finisher of the rainiest Boston Marathon on record (2018), but truly enjoys triathlon training and outdoor adventures with her black lab.
