Audacy is out with the second edition of its “State of Audio” e-book that compiles key research from the Interactive Advertising Bureau, Edison Research, Nielsen and other sources about the expanding audio market. The 34-page report is chockful of facts, figures, infographics insights and buzz phrases about “the listeners, creators and advertisers revolutionizing audio.”
Focusing on changing listening habits, “State of Audio” examines the explosive growth of podcasting.
“Loyalty has shifted from listeners’ favorite platforms to their favorite content,” it says. “They’ll follow their most loved stories and personalities wherever they go.” For example, 47% of Audacy’s digital audience is made up of cross-platform listeners, the report says, citing data from Triton Digital, Google Analytics and comScore.
“State of Audio” explains how listeners “flow in and out of audio all day” on whatever platform fits the moment. “It’s also why the rise of the cross-platform listener is arguably the consumer trend with the biggest opportunity for advertisers in 2022,” it says.
In a chapter devoted to Listeners, Idil Cakin, Audacy’s Senior VP of Research, identifies a new group of super listeners known as AudioX that “ravenously consume audio across platforms.” These digital natives jump from radio to podcast and back; they tune in for more hours; skew younger; are 67% more likely to have household incomes over $100K; and 52% more likely to have a college degree. Other new consumer segments identified by in the Audacy report are Zoomers, Tech Wizards and Info Seekers.
A chapter about Advertisers describes the trend from classic demo targeting to behavioral targeting to passion-based targeting (“passions are the new demos”).
Finally, a Creators chapter delves into the actors, comedians, journalists and social media stars that have been flocking to the mic via podcasting in the past few years, along with legacy radio personalities that are also driving the podcast boom.
“Audio is a trusted companion to hundreds of millions of listeners and more than any other medium, the best way creators across the globe connect with their audiences authentically and intimately at scale,” says Paul Suchman, Audacy’s Chief Marketing Officer. "Our second edition of the ‘State of Audio, The Disruptors: The Listeners, Advertisers, and Creators Revolutionizing Audio,’ focuses on the people, strategies, and content shaping audio’s meteoric rise as a must have media for marketers.”
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. And audio streaming growth is outpacing investments in video, social and search.
Audio usage has eclipsed TV, including CTV
Audio reaches everyone, with 99% of US adults reporting using audio monthly. And that's 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)
Gen 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)
Download “State of Audio” HERE.