The Podcast Consumer 2017 report from Edison Research and Triton Digital dropped today. It echoed much of the findings from the Infinite Dial 2017 report from earlier this year but went more in depth into the podcast consumer, their habits, how they listen, and what are still some of the challenges that the industry faces.
Glenn Rubenstein, our friend at Adopter Media, joined us for a special bonus episode of PodtoPod to provide instant reaction to the report. Also, make sure to check out Glenn’s new project ‘Podcast Advertising.’
One of the biggest and best takeaways, something we already knew, is that podcast listeners are affluent and educated. That is great information for brands that are interested in using this medium to market.
What was more interesting was that we also saw that podcasters tend to subscribe to video on demand services like Netflix, Hulu, and Amazon Prime. Which means that these consumers have less access to sponsor supported media, making podcasts that perfect way to get your brand in front of them.
What makes that even more interesting is that podcast consumers are also more likely to follow brands on social media.
That means, these folks want to engage with brands in a sense, but they are consuming media which does not reach them. Making podcasts an excellent option for marketers to reach this audience. Podcast consumers are also very desirable because they must actively choose this content. You can’t trip over a podcast; you have to decide to subscribe, download, and play it.
It remains encouraging that podcasts continue to be enjoyable content. 86% of the podcasts consumed are mostly completed or fully completed, with 66% listened to within 48 hours of downloading. And among those that claim to be a podcast consumer, we learned that 30% of their time spent listening to audio is with podcasts, the highest category in that share of ear survey.
This report also highlighted the role that smart speakers could play in the evolution of podcast consumption. The home is still the number 1 place where most podcast listening is reported to have occurred.
However, there are still a few hurdles that the industry as a whole will need to overcome. The first one is that among the general population, the share of ear drops precipitously to just 2% of all audio content consumed. We think that still has a lot to do with barriers to entry concerning finding content that has a mass appeal to all audiences and some of the technological burdens to consuming podcasts in places where often listens to audio.
The survey also reveals the significant role that public radio content plays on the podcasting landscape. That may not seem like a huge hurdle, especially if you work in public radio, but it could add an association to the podcasting space that may deter some listeners. It also, means that other content creators continue to have an uphill battle when it comes to getting discovered.
Especially when you consider the role marketing plays in podcast discovery and how easy it is for public radio shows to keep audiences listening to more public radio content with their podcast apps and cross promotion strategies. Both things we have to applaud as brilliant ways to grow their overall podcast consumption, but could play a role in keeping other content from
Overall though, this report continues to show that there is a lot of potential for podcasting. The audience is attractive, especially for advertisers. The content is consumed at a high rate and often quickly. And the listeners are loyal to the medium. All things that should make you want to continue to produce great content.