US consumers dig digital audio. Whether it’s podcasts or streaming radio and music, the US population is spending more of its time in this digital medium. Naturally, advertisers are following.
How many US consumers listen to various forms of digital audio today?
More than three-quarters of US internet users will listen to digital audio formats like podcasts and streaming music at least once a month this year, according to our April 2019 forecast. Podcast listeners account for a much smaller portion of the US internet population (26.9%), but this audience is growing the fastest. And 30.8% of digital audio listeners will access that content via a smart speaker in 2019.
Where are advertisers putting their digital audio ad dollars today?
Streaming audio, specifically AM/FM radio and pure-play music services such as Spotify and Pandora, are the biggest outlets for brand advertisers today. Podcasts have been the go-to channel for many direct-to-consumer (D2C) brands. And, increasingly, traditional brands are buying into the power of categorical exclusivity and influence that podcast ads provide.
What about smart speakers?
Smart speakers are contributing to the digital audio advertising landscape in two ways. First, as an enabler and accelerant of digital audio consumption. Second, as a future-forward advertising outlet. It’s early days for smart speaker advertising, but many brands are eyeing this arena closely.
WHAT’S IN THIS REPORT? This report explores the current state of digital audio advertising, focusing specifically on streaming audio, podcast and smart speaker advertising opportunities.
KEY STAT: The average US adult will spend more time listening to digital audio than listening to radio in 2020 (a difference of 4.4 minutes).
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