Podcasts are taking off. Everyone is listening to them, and everyone is making them. They have become one of the major brand supplements that it would be ridiculous to avoid making, alongside hoodies and books.
But why? Are podcasts really that popular? It seems like a moment in history coming back. Didn’t talk radio get left behind with The Hitchhiker’s Guide to The Galaxy? And yet, Spotify is awash with them. They take a lot of attention from the user and don’t hold the appeal of physically holding an item made by a creator you love, so what is the appeal?
In this guide, we try to determine that appeal, but also how you can use it to aid in your affiliate marketing campaign.
There are 2 million podcasts on the market
In 2021, there are over 2 million podcasts. Not podcast episodes, but podcasts. Almost the population of India is the same as the number of podcasts in the world. Plus, there are over 48 million podcast episodes on the internet, with that number growing every day.
Over the past few years, podcasts have slowly been becoming more mainstream. More and more brands are embracing the podcast as a way of sharing their knowledge, or simply talking about a topic they are interested in. Brands and influencers have added them to their roster of YouTube videos or Instagram posts as a way to engage, and some YouTubers have entirely abandoned scripted videos for the new format. Other influencers with a more niche or informed genre of content use it as a way to take a deep dive into their relevant topics. Others, who start a podcast purely to start a podcast, are usually just looking to talk in-depth about their favourite subjects.
Nearly 60% of the population are listening
Nearly 60% of the population is listening to podcasts. Aside from a dip in 2013, over the past 15 years, podcasts have steadily gone up and up. For example, last year the percentage of the US population listening to a podcast at least once a month was at 37%. Today, that figure is at 41%, indicating a steady increase in listeners.
65% of users are listening to their podcasts on a smartphone or another portable device like a tablet, but a whopping 90% of listeners are listening at home. Other places users listen include in the car, which 64% of users are doing, walking around (49%) and commuting (37%).
And it’s not a quick moment of passive enjoyment. Audiences are engaged, proven by the fact that 82.4% of listeners are spending more than 7 hours a week listening to their podcasts, which averages out to an hour a day. That is a lot of time to get ads in.
3/4 listeners are looking to learn something
So, why are users listening to podcasts? What are they getting out of it to devote just an average of 7 hours a week to keep listening?
For a majority of users, the appeal is information. Three out of four listeners say they tune in to learn new things. They offer education and inspiration, allowing users to be more informed on a chosen subject. And with genres of podcasts covering everything from the law to celebrity gossip and people from various industries around the world making podcasts, it’s easy to get informed.
Once again, this indicates engagement. Listeners are truly listening. And it seems the only reason someone isn’t a listener is a lack of access. 35% of people who aren’t listening to podcasts say it’s simply because they don’t know how to find one.
22% of podcasts are comedy
Podcasts, much like other forms of entertainment, come in a range of genres and are coming up with their own.
However, the genre dominating the podcasting world is comedy, coming in at 22% of podcasts as of 2020. But right behind it is news at 21%, and true to stereotype, true crime at 18%. Other genres include sport, health, religion, politics, self-help, investigative journalism, finances, scripted comedy, game shows, pop culture, and scripted drama.
Very few of these genres suggest passive listening. Podcasts are also a lot more accessible. As a listening media, it leaves your hands and eyes free to do other things, allowing the listener to drive, do housework, work, game, etc.
$2 billion in ad revenues
With the growth of podcasts into the mainstream, it’s no surprise that there has been a growth in profits to go alongside it. In 2021, marketers in the US are expected to spend as much as $1.33 billion on podcast ads, according to eMarketer and that is only expected to grow. By 2025, marketers are expected to spend $2.74 billion.
But will it work? It seems so, with 54% of listeners admitting that they have considered buying something due to a podcast advertisement.
With that in mind, it would be foolish to ignore the opportunities that podcasting offers to marketers. And the number of opportunities will only rise with the popularity of the platform.
For more information on how you can get started with your podcast, or for advice on affiliate marketing, book a free call with a member of our team.
