The podcasting industry is on fire and growing in popularity, largely because of the quality and variety of content, as well as the ease of access. With excellent targeting and programmatic capabilities, it’s no wonder listeners and advertisers are flocking to podcasting.
In a minute, we’ll talk about why streaming audio, and specifically podcast audio advertising is such an effective form of digital advertising. But first, let’s discuss why has podcasting become so popular with listeners?
Podcasting content is mostly free!
Think of podcasting as on-demand radio over the internet. Like radio, podcasts are abundantly available for free download or a small subscription fee from streaming content providers.
As broadcast radio and television have proven, this model will always reign supreme.
Apple leads the pack in the free download category and accounts for approximately 70% of all podcast downloads. While Apple has thousands of podcasts to choose from, Spotify offers the largest library of streaming audio content ands distributes a whopping 33.7% of all podcast content.
Abundant, high-quality content
With the 2020 COVID pandemic lockdowns, America witnessed an upturn in the cottage podcast industry. Before the pandemic, technological advancements had already made it easier for entrepreneurs to start podcast businesses.
So during the pandemic there was an explosion of new content creators. As a result, the competition level was increased significantly and the quality and quantity of content has risen to very high levels.
With the ability to listen quality content on literally any subject matter, podcast popularity is growing like mad.
Convenient, efficient and easy to use
Technology has helped podcasting become one of the most simplified ways of digesting content. With a podcast, you can pause and rewind whenever you need to. You will never miss a moment or a single nugget of information.
With smartphones, smart speakers, AirPods/earbuds, bluetooth car radios and voice command—there is hardly ever a time or place where listening to a podcast is not convenient.
In 2023, 22% of people listen to a podcast while driving, listening is highest in the morning and most of the podcasts are listened to on a mobile phone.
Industry growth
If you are considering whether of not podcast advertising is in your future, consider this: Worldwide podcast listenership is expected to grow 8.65% in 2024, from 464.7 million to in 2023 to 504.9 million in 2024.
The United States has the most podcast listeners in the world. It is predicted that over 100 million active podcast listeners will be in the U.S. in 2023.
For advertisers, this makes an amazing opportunity to reach a vested audience.
Why is podcast advertising so effective
So now we know why listeners love podcasts, and why listenership is growing worldwide. But what makes podcast advertising better than other digital advertising mediums?
Podcast advertising—and streaming audio advertising in general—has a way of allowing the listener to focus on the message. Typically, the listener is engaged in an activity that allows them to really focus on the message. This could include household chores, driving, relaxing on the couch and many other activities. So retention is very high.
In addition—and like radio—podcast hosts tend to have a more intimate relationship with listeners than do other types of media broadcasters in media. This leads to trust, and research shows that listeners consider podcast hosts as 86% more trustworthy and 89% more authentic than other influencers.
So whether ads are served programmatically, or as host-read ads, loyal listeners are much more likely to transfer the brand of the host to the product or service being advertised.
Hot Genres
In addition to being an effective form of digital advertising, there are other reasons why your agency or business might want to jump into podcast advertising. For example, some genres are very hot in podcasting and, in some cases, hotter than any other medium.
According to Spotify, the top genres in podcasting are Kids & Family, True Crime, and Sports. With Apple, True Crime is also a popular genre, but comedy and news round out the top three most popular Apple podcasts.
More podcast industry statistics
Here are some stats we pulled from 53 Podcast Statistics: Listeners, Growth & Trends (2023).
- Spotify and Apple podcasts are the two biggest podcast streaming services on the globe.
- The United States has the most podcast listeners in the world. It is predicted that over 100 million active podcast listeners will be in the U.S. in 2023.
- 78% of the US population is aware of podcasts. Out of which, 28% listen to podcasts weekly.
- 160 million US citizens have listened to podcasts at least once.
For more statistics in the podcasting industry, check out 53 Podcast Statistics: Listeners, Growth & Trends (2023) and for more reasons why podcasts are so popular, check out this beauty.
Ad Placement Partners offers white label digital ad placement that simplifies getting your agency’s streaming audio and podcasting advertising clientele in front of highly targeted and interested audiences. Contact us now with questions, or…
Schedule an online video meeting for a free strategy consult.
