4 Reasons to be Psyched About Audio in 2019: Trends, Predictions, and Content to Listen for This Yea
With new formats, more content, and better technology the phrase “audio is everywhere” has a whole new meaning now. Whether it’s catching up on the news in the car, music streamed from speakers, or podcasts queued up for the gym, audio is engrained in the day-to-day lives of Americans.
“More audio is being listened to than ever before. Between radio, podcasts, smart speakers and streaming, audio listening overall has been growing in big numbers,” our co-founder & co-CEO Gary Schonfeld says. “And, where the audience goes, the advertisers follow.” Brands large and small, new school and old school will continue to rediscover audio –streaming, network radio, podcasts – as a vital element to their media mix.
We’re pretty excited about what 2019 will bring, here’s what you can look forward to in the new year.
We’re still going to talk about smart speakers:
Just in time for CES, Edison and NPR have released their updated Smart Audio Report highlighting the presence of smart speakers in U.S. homes. Ownership is now up a whopping 78% year-over-year hitting over 118 million homes in December 2018. The demand for these gadgets is clear and shows no signs of slowing. Listening to audio content like music and podcasts will continue to be the primary use case for these devices as consumers have yet to warm up to other features like making purchases and calls.
The podcast industry now has its eye on the prize:
More listeners. The challenge to close the gap between those aware of podcasts and those who listen regularly has been taken on by Apple’s competitors. Pandora has its Podcast Genome Project, Google launched a native app, and Spotify has made serious investments in expanding its podcast platform. CES has also brought a slew of new podcast platforms and integrations at the start of 2019. The revived competition to beat out Apple as the top podcast platform might just be what the industry needs to grow the bottom line for listenership.
…and the other prize:
More ad dollars. The IAB/PwC outlook for podcast revenue suggests ad dollars could hit $659 million by 2020—many experts are predicting the industry will blow past that number too. Expect more traditional advertisers – especially CPG brands – to experiment with the medium. The increased interest from new advertisers is thanks in part to the inroads that have been made with podcast measurement, especially in the past year.
Radio’s millennial story continues:
For brands trying to reach millennials, 95% of radio listeners 18-34 tune into network-affiliated stations each week. Millennials spend 17% of their time listening to radio a day, a share consistent with other demos. Rolling Stone’s look back at 2018 music trends spotlights the staying power of radio and its ongoing role as a tastemaker. FM radio is a major source for music discovery: a listener study found that 49% of respondents said they discovered new music on the radio, outpacing the 27% who go through online music services. Radio programmers are helping to keep millennials tuned in as they have a huge influence over which songs become the next big hit.
Are you psyched to make audio part of your 2019 strategy? Let’s talk! AdLarge offers complete audio solutions – from national reach networks to play-by-play spots and podcasts.