What is a Podcast and Why Does it Matter

Podcast:  A digital audio file made available on the Internet for downloading.

Podcasts are sort of like your favorite blogs, shows, and topics all mashed up into a recording that you can download onto a computer or mobile device to listen to whenever you want.  There is no predetermined length or format.

Podcasts allow you to learn about new topics anywhere.  Podcasts can be done by celebrities, comedians, individuals, businesses, news sources, radio networks, TV networks, etc.

According to SmallBizTrends.com, podcasts help build a better relationship with an audience.  People listen to podcasts because they have something in common with the person or brand the speaker represents.  Podcasts help to build trust and can be a good tool to add to your marketing toolbox.

There are 700,000 active podcasts and over 29 million episodes.

The top 5 most popular podcasting genres include:

  1. Society & Culture
  2. Business
  3. Comedy
  4. News & Politics
  5. Health

General Podcast Stats

  • Over half of the US has population has listened to a podcast.
  • 52% of podcast listeners in the US are male.
  • 48% of podcast listeners in the US are female.
  • 33% of the US population listens to podcasts every month.
  • 22% of the US population listens weekly.
  • 25 to 34-year-olds are the most active podcast listeners.
  • Weekly podcast listeners spend an average of 6 hours and 37 minutes per week listening to podcasts.
  • Regular podcast listeners are more likely to own smart speakers (Google Home, Amazon Alexa, etc.) which is a rapidly growing market.

Why Podcasts Matter to Businesses

  • Google has indexed more than 2 million podcasts.
  • 69% of podcast listeners surveyed agreed that podcast ads made them aware of new products and services.
  • Podcast ad revenue grew from $69 million in 2015 to $402 million in 2018.
  • Podcast ad revenue is predicted to grow to $659 million in 2020.
  • Podcast revenue is predicted to reach $1.6 billion by 2022.
  • Podcasts attract more educated and wealthier listeners, 45% are likely to have a net household income over $250,000 annually.
  • Podcast listeners are more active on every Social Media channel.
  • Podcast listeners are more likely to follow companies or brands on Social Media.
  • Regular podcast listeners are less exposed to TV advertising.

Podcasts and Purchase Intent

  • 14% lift in purchase intent advertising in Business podcasts.
  • 8% lift in purchase intent advertising in News & Politics podcasts.
  • 3% lift in purchase intent advertising in Sports podcasts.
  • 2% lift in purchase intent advertising in Society & Culture podcasts.
  • 3% lift in purchase intent advertising in Comedy podcasts.

Data Sources:

  • Music Oomph (https://musicoomph.com/podcast-statistics/ )
  • Edison Research (bit.ly/edison-infinite-dial)
  • Nielsen (bit.ly/nielsen-podcasting)
  • IAB (bit.ly/iab-podcasting)
  • PwC (bit.ly/pwc-podcasting)
  • Pacific Content (bit.ly/pacific-content)

 

 

 

 

Laura Donovan Written by:

For nearly 10 years I have been helping businesses of all types use the power of social networks to achieve their marketing and sales goals. As a Social Media Director, Content Manager and Digital Media Marketer I have used a variety of platforms including Facebook, Pinterest, LinkedIn, Twitter, Google Plus, Instagram, Snapchat and YouTube. I focus on developing and executing a strategy that best fits each client while measuring and monitoring analytics and metrics to ensure benchmarks are met, researching industry trends as well as social influencers, working toward achieving SEO and branding through the appropriate social platforms, blogging, paid acquisition and email. I have a Bachelor’s Degree in Communications, experience with management, customer service, creativity and vision with strong analytic skills. I understand the platforms and their differences and know how to help a business succeed on Social Media and keep current on social marketing trends and best practices. I have enjoyed working with many different companies including Sharp Electronics, Mary Kay, Inc., Re/Max, Nationwide Insurance, State Farm, Northern Insurance and many more across the country. See more about the services my company offers at http://www.socialmediamarketing-help.com and connect with me: @LauraDonovan or @TheWordPro on Twitter, @TheWordPro on Instagram and like my Facebook Page at /TheWordPro Thanks for stopping by to read my blog!