Podcasts Listeners to Top 100m in the USA by 2021 & advertising spent to hit $1bn

Written by on March 12, 2020

Podcasting has been around for 2 decades but why is it now set to keep growing at a fast rate in 2020 and beyond

The Simple answer is smartphones, they are one of the biggest growth areas in consumption. Data prices continue to drop so it’s viable to consume a podcast on the move when not a WIFI. There has been a 157% increase in listeners on handheld devices, combine the data prices with people used to listen more on-demand it logical that podcasts should benefit from this change in cultural consumption of entertainment.

 

Graph from Business Insider Intelligence

us podcast listeners
Us advertising spend is up from $479m in 2018 and is set to rocket to $1bn in 2021, why?.
Well, the platform already has large listeners but is now attracting, younger and affluent listeners who will use digital technology. Advertising is seen as more successful as unlike other digital media currently cannot use an ad-blocker which people apply on other forms of media
Companies in the past that were reluctant to advertise on Podcast have realized their target market will be listening to a particular type of broadcast and it appears companies have changed their opinions on Podcasting and the benefits of paying to advertise, makes sense as this younger audience tend to be more affluent, educated and willing to buy into brands.

 

So let’s look at what these listeners look like

  • Podcast listeners are much more active on every social media channel (94% are active on at least one – vs 81% for the entire population)
  • Podcast listeners are more likely to follow companies and brands on social media
  • Podcast listeners are more likely to subscribe to Netflix or Amazon Prime (meaning they are less likely to be exposed to TV advertising)
  • Podcast listeners are more likely to own a smart speaker (Amazon Alexa or Google Home)

Information Source https://www.podcastinsights.com/podcast-statistics/

 

This information is interesting from one key area, these listeners will not see regular advertising as they consume on-demand from streaming services such as Netflix. So we can see from that company looking to advertise to an audience need to position their adverts where they will be listened to.

 

Podcast listeners tend to own smart speakers like Amazon Echo/dot (Alexa) or google home, we’ve been expecting this and its why at Duggystoneradio we have developed skills for Alexa. We create these So podcasters currently on other platforms can ensure this new group of listeners can access episodes on their Alexa device.

We have seen a similar response to podcasting in the Uk with listeners increasing by 24% in 2019 and over 7m listeners in the uk, its why we think business int he Uk that have in the past ignored podcasting need to rethink this.

We get asked all the time ” Can I make money from podcasting”   the answer is both yes and no, put it another way if you have thousands of downloads then its easy to attract sponsors or if your podcast hits the right audience. However what is an interesting way to look it if you have a podcast that appeals to an audience then they will tend to be more affluent, educated and therefore podcast acts as subliminal advertising.

A Terri Brown a marketer put it very simply recently on a Linkin live

 

The Voice Sells 

Thanks to Howard vale for the expert from his linked in live 

The Voice sells” it does think about it we humans connect and listen to a person’s voice, tradition advertising both TV and radio have a heavy reliance on voice. Think about an advert you like or have bought into a brand, it will be what was said, how they said it that interested you.

its why podcasting is seen as a new ground for companies looking to keep engaged with customers and why smart companies are investing in podcasting and podcasting advertising

Have you thought about podcasting and discounted it in the past or currently thinking about what is all the fuss about.

 

well we are here to help we can guide you right from total novice to producing and promoting your Podcast

we also offer sponsor or advertising packages on the radio station or on our podcast that we produce

 

send us a message to contact@duggystoneradio.com and we will be happy to discuss with “no sales hassle”  we can explain in more detail podcasting and what we do.

 

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