Podcasts have been silently gaining ground in the audio entertainment world for years. But, besides a few exceptions (ie: Serial), podcasts haven’t in the headlines the way Pandora, Spotify, iHeartRadio and Tidal have been.
More and more data has been emerging about the rapidly growing popularity of podcasts. Here are a few quick data points from a Edison Research and Triton Digital report:
- 27% of weekly podcast listeners have been tuning in for one year or less (meaning there are a significant amount of new listeners to the space).
- The monthly podcast audience is over 57 million, which is 21% of the 12+ population.
- Podcast consumers are more affluent than the national average ($63,000 median annual household income vs $53,000)
- The average time spent listening per week is 4 hours and 10 minutes (and projected to grow this year).
What does this mean for advertisers? It means that there is a quickly growing, very loyal audience with buying power that will listen to your brand messages in order to get to the content they want to hear.
If you’re looking to target audiences based on interest, job sector or hobbies, podcasts may be your best bet. According to comScore, “podcasts over-index on reaching some of the most valuable and hardest to reach audiences, and they also put consumers in a mindset that is favorable to ad receptivity.”
Are podcasts a part of your sound strategy? Maybe they should be.
Photo via Slate.com.