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Podcasting in 2023: More Stability and Growth, Less Hype

Maddy Troy

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https://www.pexels.com/search/news%20media/

Podcasting is no longer the renegade audio medium it once was. It is settling into a rhythm of its own and it’s certainly not all about the “hype” anymore.

Aron Kressner of Forbes released a piece today featuring a quote from Edison Research, noting a consistent increase in overall listenership in the U.S., with no hint of a drop-off.

“As of our most recent data, Q3 2022, podcasts now reach 18% of those age 13+ in the U.S. — a 20% increase in the past year (Q3 2021), and over three times the reach of 2014.”

Kressner also noted a compelling stat he came across while researching; “Perhaps the most interesting figure is the voracity: the average podcast listener consumes 8 episodes per week.”

Another indication of podcasting’s promising future in the Ad space is the recent partnership made by Nielsen and Edison Research’s Share of Ear® .

Edison Research made the announcement of the deal on its website on January 31.

“Nielsen, a global leader in audience measurement, data, and analytics, announced today that it will market Edison Research’s Share of Ear and Edison Podcast Metrics services to advertising agencies.”

This type of partnership is something to keep an eye on. It shows that global leaders in the audio world are paying attention to the fact that the relationship created between podcast hosts and listeners is something incredibly unique.

The establishment of any form of media takes time to fully integrate into the daily lives of people. Podcasting has not only introduced a new medium into our lives, but it also has introduced a new tone and a new sense of honesty in communication.

Now that people have a taste for that, there is no going back to fully scripted, 2-minute interviews. The players in podcasting may be changing, but the long game is on as podcast host reads consistently outperform almost all other forms of advertising.

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Media Business

Median Age of Podcast Users Nearly 30 Years Younger Than Cable TV

“The ascent of podcasting signals a shift towards on-demand content consumption that aligns with the lifestyles and preferences of younger generations.”

Barrett News Media

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A photo of a podcast user's cell phone

It is no secret that cable TV has seen the age of its viewers continue to rise. But the entire picture is coming into view when juxtaposed against other mediums like radio and podcast users.

A new report from Amplifi Media shows that the median age of cable news viewers is 70. MSNBC is 70, Fox News is 69, and CNN is 67. That median age means that more than half the viewers are actually older than 70 years old.

Network television isn’t a much brighter picture. In primetime, the median age is 64. FOX has the youngest number at 49.5.

However, the median age of podcast consumers comes in at 34.

Steve Goldstein, Founder and CEO of Amplifi Media, believes the drastically younger demographics of the medium make it an ideal platform for advertisers.

“The ascent of podcasting signals a shift towards on-demand content consumption that aligns with the lifestyles and preferences of younger generations,” wrote Goldstein. “We live in an on-demand world, and while other media are adjusting (think streaming apps and YouTube), podcasting has three not-so-secret ingredients that traditional media struggle to match: intimacy, flexibility, and loyalty, which makes podcasting an ideal platform for engaging storytelling, niche topics, and fresh takes.”

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Media Business

Majority of Media Advertising Projected to Be AI-Aided By End of Decade

Forecasts show that 69.5% of all advertising revenue will be AI-aided, while that number is expected to grow to over 90% by 2029.

Barrett News Media

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The rise of artificial intelligence in media has been a focus for several years. But the use of AI in advertising is just getting started, and a new study suggests it will influence the space in the years to come.

GroupM has released its This Year Next Year forecast. In its projections, it believes that AI will be a prominent tool in advertising optimization. By the end of 2024, it forecasts that 69.5% of all advertising revenue will be AI-aided, while that number is expected to grow to over 90% by 2029.

The company also projects that AI-generated content in advertisements will account for 1.6% of all commercials in 2024. GroupM believes that figure is likely to grow to 10.7% by the end of the decade.

While the organization forecasts an increase of $365.9 billion, up 5.8% compared to previous projections, it shows a 1.5% drop in revenue for terrestrial radio, according to RadioInk.

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Media Business

Broadcasters Foundation of America Set for Annual Giving Day Thursday

More than 1,000 broadcasters have been aided by the organization.

Barrett News Media

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A photo of the Broadcasters Foundation of America logo

The Broadcasters Foundation of America is set to hold its annual Giving Day on Thursday, June 13th.

For more than 70 years, the organization has supported broadcast radio and television professionals during challenging financial times. More than $20 million in grants have been funded by the foundation since its inception.

More than 1,000 broadcasters have been aided by the organization.

To donate to the fund, click here.

In addition to its Giving Day, the organization will hold a mixer at the iHeartMedia studios in New York from 5:30-7:30 PM on Thursday.

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