Podcast titles and podcast episodes have both increased by nearly 200% over the last two years, according to Nielsen’s Podcasting Today report. Half of daily podcast listeners started listening to podcasts in the past two years. And Americans now have almost 2.1 million podcast titles to choose from.
Not only did podcast selection increase during the pandemic, but audience engagement also increased. “A wider audience presents advertisers with greater reach opportunities through a medium that delivers higher brand recall than other forms of advertising,” the report said.
Nielsen also found that 56% of daily podcast consumers listen to podcasts more frequently than they did two years ago, and 52% listen to more titles.
Overall, U.S. consumers feel positive about pandemic recovery. 76% of Nielsen respondents reported having resumed most normal activities. That number is even higher for podcast listeners (81%).
Podcast listeners are also more likely than the general population to plan a major purchase within 12 months, such as a new vehicle, a new home entertainment system, and trips that involve air travel. And 88% of these consumers are willing to consider a new brand.
Many marketers are altering their budgets in response to podcast advertising’s proven effectiveness. According to Nielsen’s 2022 Annual Marketing Report, 56% of marketers in North America plan to increase their podcast spending over the next year, and 15% plan to increase their podcast spending by 50% or more. The IAB expects U.S. podcast ad revenue to hit $2 billion in 2023.
Are you ready to join top advertisers on the exploding medium of podcasts? Contact SMI today.