There’s fresh evidence linking the emotional connection that podcasts have with listeners with the halo effect around purchasing behavior. The Podcast Trends Report 2019 says 56% of the people they surveyed reported they had bought an item after they heard it advertised on a podcast. That’s up compared to 49% who said that a year ago. The purchase impact may be a result of the fact that rather than skip an ad, 87% of respondents said they listen to the commercial message.
Kevin Goldberg, the founder of Discover Pods which conducts the annual survey, said while direct response marketers clearly know podcasting works based on their embrace of the medium, “brand marketers should heed this [data] and view it as the next advertising frontier.”
The Podcast Trends Report 2019 was compiled after surveying 1,203 podcast fans, 234 of whom are podcasters. Nearly half (48%) said they’re listening to more podcasts compared to a year ago. 46% said their consumption habits were pretty much the same with just 6% reporting they’d pulled back on listening.
“Podcast subscriptions among existing podcast fans continues to skew towards more podcasts. 27.1% of respondents are subscribed to over 70 different podcasts,” the report says. But that doesn’t mean they’re listening to that many. The survey found 82% of podcast fans listen to seven or more hours of podcasts each week. That’s up six points compared to a year ago. And 22% of respondents said they listen to more than 22 hours each week which translates to more than three hours per day. Where are they finding the time? The report says two-thirds said they listen to more podcasts than they watch television. How people are consuming shows is also evolving. A third of those surveyed said they’d listened to a podcast through a smart speaker.
Despite all the growth trends, the Podcast Trends Report also found similar hurdles remain before listeners as in years past. Among those who were surveyed, 73% said the biggest challenge facing podcasts today is discovery. Half said the medium suffers from a lack of awareness. And a third said low podcast quality remains a problem. Among the podcasters who were surveyed, 61% list marketing and building an audience among their top challenges.
So, what’s important to podcasters? Near universal is the quest to produce a “quality” podcast. It was cited by 98% of those surveyed. Engaging listeners ranked second (97%) followed by publishing podcasts on a consistent basis (90%). As for making money, 74% of podcasters consider earning revenue important.
Goldberg says unlike some other surveys and research conducted of the general public, their survey aims to track trends among the podcast community include show publishers. Download the full Podcast Trends Report 2019 HERE.