Though podcasts began more than a decade ago, there has been a rather limited reach and awareness until the last few years. Today, podcasts have transformed into a low investment, high returns, medium which hinges on informative and relatable content which is extremely convenient to consume.
The audio industry is growing and is attracting diverse voices. There is a significant rise in the number of people listening to and proactively subscribing to their favourite podcasts.
Market studies have indicated that audiences for audio on demand will continue to increase rapidly, and this will boost the demand for advertising associated with it. As podcasters tap into new content forms including the at-home smart speaker world, the number of listeners is only going to increase with time.
A recent study by a prominent podcasting platform not only shows that monthly listens to podcasts have doubled but also reveals:
- An estimated 23 % of the UK population listened to a podcast in the last month
- Podcast consumers spend 3.6 hours per week listening to content
- 76 % listeners have acted on podcast advert or sponsorship message
- 3 out of 5 new listeners have promoted a product, service or site endorsed in a podcast
- Podcast listeners earn 37% more than non-listeners, making them a target for several brands
Isn’t it obvious from the stats that your business should care about podcasts, and leverage them to improve your reach and revenue? If you are still pondering over the awareness and consumption of podcasts, and are hesitant to embrace it, your business may lag behind.
If you want to know more about podcasts, and how you can use it to promote your business and transform your marketing, reach out to us. We will be happy to help you!
