Abstract
Scores of consumer behavior studies have confirmed what has been called a double jeopardy effect, whereby brands earning small market shares attract fewer customers but also experience less customer loyalty than more popular brands. This two-fold plight of the small brand has also been detected among consumers of media, such as newspapers and television programs. This study hypothesized a similar double jeopardy behavior among radio station audiences. Using ratings-based turnover ratio and exclusive cume as operationalizations for listener loyalty, an analysis of over 1,600 stations revealed that, despite radio's emphasis on niche marketing, a significant double jeopardy effect can still be found. Furthermore, station competition and program format were tested as intervening variables.
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