Podcasting continues to play a bigger role in the media diet of Americans, and the latest Edison Research Share of Ear data reflects just how much growth has been occurred during the last several years. It finds that one of every five minutes that adults spend with ad-supported audio goes to podcast listening during the second quarter. Only broadcast radio has a bigger share with 69% of ad-supported audio listening time.
Cumulus Media/Westwood One Chief Insights Officer Pierre Bouvard says there has been “very consistent” growth for podcasting. “Podcast audiences have really surged over the last couple of years,” he says. “At a 19 share, podcasts represent one out of every five, ad supported tuning minutes.” Bouvard says in a video detailing the Edison findings that podcasting now has a share that is triple that of music listening to the ad-supported version of Spotify, Pandora and SiriusXM. He also points out that while AM/FM radio remains the dominant audio platform overall, it has a massive 86 share in the vehicle. “We are starting to see podcasts inch up a little bit in the high single digits in the car,” Bouvard added.
The latest Edison Share of Ear data also sheds fresh light on how far Pandora has fallen off in the minds of consumers. Since 2017, its daily reach has been cut in half to six percent. At the same time, the percent of adults that listen to podcasts daily has tripled, growing from7% in 2017 to 22% today.
“Consumer interest in Pandora hit a high in 2008 and since then, its audience and profile with Americans have significantly collapsed,” Bouvard says. He points to Google search trends that shows that Pandora-related searched peaked in 2008, and have been in a steady decline ever since as usage has also trailed off with every age group other than those aged 65 and older.
Despite a collapse in usage, Bouvard says an Advertiser Perceptions survey conducted last month shows a “huge disconnect between perception and reality” among marketers. He says the data shows marketers and media agencies “wildly overestimate: the perceived audience shares of Pandora and Spotify and “dramatically understate and underestimate” the listening of AM/FM radio.
The survey of 303 ad buyers estimated Spotify had a 25 share, when in reality it is only a four share of ad-supported media. And Pandora there is a perception of an 18 share, which is three-times bigger than reality. But Bouvard says it is the other way around for AM/FM. Buyers perceive that AM/FM has a 27 share, when, in reality, its share is about two and a half times bigger.
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