Millions of listeners trust audio more than any other medium, making this medium a great media tactic for advertisers and creators to connect with their audiences. Audacy, a leading free audio content app, has released a second edition of its “State of Audio.” The company compiled research from the Interactive Advertising Bureau, Edison Research, Nielsen and other sources about the expanding audio market. The report is full of facts, figures and insights about listeners.
Citing data from Triton, Google and Comscore, 47% of Audacy’s digital audience is made up of cross-platform listeners. Listeners have gone from favorite platforms to favorite content, following their favorite stories and personalities wherever they go.
In a chapter about listeners, Audacy’s VP of Research identifies a new group of listeners known as AudioX. They consume audio across platforms. They jump from radio to podcast and back to radio; they tune in for more hours, skew younger, and are more likely have college degrees with household incomes over $100,000.
Another chapter in this edition focuses on creators, including actors, comedians, journalists and other celebrities who have gone into the podcast arena in the past few years. Along with longtime radio personalities, the inclusion of well-known talent has helped drive the podcast boom.
Other findings from the report:
• Audio revenue outpaced video in 2021. Per the latest IAB “Advertising Revenue Report,” audio streaming revenue is up +59% YOY. Plus, audio streaming growth is outpacing investments in video, social and search.
• Audio usage has eclipsed TV, including CTV.
• Audio reaches everyone, with 99% of U.S. adults reporting using audio monthly, which is more than the total use of TV, including connected devices. (Source: Nielsen, Q4 2021)
• Even movie enthusiasts are more likely to stream audio than video. (Source: MRI Simmons, Winter 2022)
• Generation Z and Millennials are more likely to stream audio than video. (Source: MRI Simmons, Spring 2021)
• Time spent listening on AM/FM streaming and podcast content has increased +64% from 2015 to Q1 2022. (Source: Edison Research, Share of Ear Study, Q4 2015-Q1 2022)