Welcome back to Media Trends Monday, a series where we examine trends we’re seeing in today’s media landscape and how they may affect your business and marketing efforts.
Podcasts are an enticing medium for advertisers, as they have exploded in popularity over the past 15 years. More than half of US consumers (18+) listen to podcasts at least once a week. And it makes sense, considering there are 1.7 million podcasts available for a listen. That’s a lot.
Here comes the data
Today we’re looking at numbers from Nielsen’s podcasting report. Nielsen’s broadcast research methods have come under fire recently, but it still has credibility with podcasts. According to their report, while heavy podcast listeners remain flat year over year, there has been growth of occasional podcast listeners.
The podcasting industry survived the pandemic with flying colors, despite people spending less time in their car. However, in part due to the pandemic, more total hours are being spent on media outlets, and that trend is projected to continue in the podcast realm.
Although there has been growth in podcast listenership, types of podcasts are fragmented. The data shows us that different podcast genres appeal to different groups. For example, hispanics are most likely to listen to kids and family related podcasts, possibly due to strong family values. Black listeners are more likely to listen to podcasts surrounding music, while Asians tend to show a preference for technology and science titles. White audiences slightly over-index on history podcasts.
How does this affect Media and my business?
75% of weekly podcast listeners listen to more than one podcast. This desire for variety may make spreading your media spend eggs across multiple podcast baskets more beneficial than dumping them all into one. But with 1.7 million titles, it could be difficult to decide which podcasts to choose from, or it can even be a challenge to grow your own presence in the space. That is why it is important to understand the consumer, who they are and if they are the type to even actively listen to podcasts.
Diverse audiences are growing fast in podcast consumption, with Hispanic, Black, and Asian listenership each increasing by over 500% since 2010. This means that podcasts are becoming a more useful means for advertising to diverse audiences, a trend that is set to continue over the next decade.
Generally speaking, heavy listeners of podcasts have a higher household income and are more likely to take action when presented with auditory advertising. At CCF, we take all of this into account when we craft intelligent media plans for your business, putting your messages in the right ears at the right time.
You know your business. We know your audience. Let’s talk about how we can help you get noticed.
Thanks for reading, and we’ll see you for the next installment of Media Trends Monday! Have a great week.