Audio: Prospering in the ever-present medium

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Need to know

  • Podcast consumption continues to rise, with 32% of Americans aged 12 or over having listened to a podcast in the last month
  • However, while further growth is likely, the podcast market must overcome a number of potential constraints
  • Podcasting's ‘Share of Ear’ has more than doubled since 2014, but the ratio of music to spoken word programming has shifted only slightly – over three-quarters listening remains music-based. The lack of music programming is a key challenge
  • Google has lagged in its engagement with podcasts, and podcast discoverability is a continued problem, though recent developments may help the search giant to carve out a greater market share
  • Radio continues to dominate in-car entertainment, and it is harder for drivers to quickly and easily discover relevant podcast content, especially as consumers tend to trade in vehicles relatively infrequently
  • Many consumers still perceive that podcasts “just aren’t for them”, or that they “don’t provide anything they can’t get elsewhere”
  • Yet the growing number of podcast networks investing in mass-appeal content will offer a rising tide to help lift all boats for podcasting, and engage even more consumers with spoken word audio