Copied from a US radio board where this same argument happens frequently:
The issue with older consumers is that their preferred products and services become deeply seated as they age and it takes so many “impressions” for an ad to create sales that there is no profit left for the client.
eg. KOAI/Phoenix is usually in the top 5 in that market among persons overall with its oldies format, but typically fails to finish in the top 20 in the key 25-54 demographic, and ranks similarly in revenue in the market.
I think there’s a perception, rightly or wrongly, that after a certain age buyers have developed brand loyalty so they’re harder to shift to a new product, essentially less need to advertise to them - unless it’s a product/service they need as a newish user.
According to The Sunday Telegraph’s Phil Rothfield, While 2GB continued to dominate in the latest survey of Sydney rugby league radio ratings, Triple M was within 0.5 of 2GB on Sunday afternoons (6.4 to 6.9). SEN was a complete disaster, registering an asterisk on Saturdays.