Podcasts have won Americans hearts over and are starting to gain traction with advertising revenue as audience growth with the Medium has been exponential within the last 5 years (40MM listeners in 2014 to now 73MM at the close of 2018). PwC reports that the Medium is on track to grow to a nine-figure component of the global media landscape by 2022.
The format is a highly engaged and intentional Media experience with 22% of the US Population listening at least 1x/month and 19% of US Adults listening Weekly. Magid reports that 4 in 10 people will research a brand/visit a website after hearing an ad within a podcast and that is even further validated by the trusted relationship listeners have with the podcaster – making host read advertisements the go-to format.
Currently, the Apple platform comprises much of the listening (~60%) and most listeners are doing so on the go with 81% consuming via a mobile device (vs. Desktop and Smart speaker) although other devices have their unique purposes too.