Nova is generally the FM station of choice for under 40's with a 8% share of the Sydney audience on average which is on par with rival KIIS FM. Kate, Tim & Marty is the highest rated Nova show receiving 13% of Sydney's Drive time audience. Smallzy's Surgery receives a good 10% share for the nighttime slot and Fitzy & Wippa receive a fair 8% of Sydney's Breakfast audience. 
In November 2014, a 30-second ad on Nova in breakfast cost $535 and in drive cost $500 (with Nova holding a 6.7% and 8.6% share respectively in these slots at the time).
One of the driving forces behind the creation of Nova was the growing demographic of youth who were embracing the commercialised anti-pop movement fronted by such artists as Daft Punk and Spiderbait, but for whom Triple J, operated by the publicly funded Australian Broadcasting Corporation, had no commercial incentives to offer. Initially the music selection on Nova 96.9 was very similar to that of Triple J, and a number of the station presenters, most notably former breakfast hosts Merrick and Rosso, which were also former Triple J staff. However, while Triple J has retained its alternative style, Nova has drifted towards a more commercial format. Meanwhile, other stations have adopted Nova's more varied programming style, to the point where Nova is now hard to tell apart from other commercial FM stations.