Why Podcasts Will Replace TV In The Next 5 Years
Podcasts are now a big player in digital content. Research shows that there has been consistent growth in listeners over the last decade and that podcasting will continue to grow in popularity.
In the next 5 years, podcasts will be more than just entertainment — they'll offer new opportunities for brands and businesses as well.
Podcast Marketing
All channels with a large audience will eventually be utilised by marketers and advertisers alike. It’s inevitable. Growing marketing budgets for podcasting shows that this trend is here to stay. Podcast advertising is growing in popularity now more than ever as people grow apathetic towards years of TV ads and billboard advertising.
But this new, fresh audience is what makes podcast marketing so attractive to marketers. There is a plethora of avid listeners willing to listen to this new form of media entertainment.
Listeners Will Tolerate Ads
No one likes ads. But since most listeners tune into podcasts while commuting or at the gym, they are far more open to enduring ads alongside their busy schedules. The situation appeals just as much to marketers. Who can guarantee their ads will be listened to and make for better ROI and exposure for their brands.
It’s not forced either. The stats say that ads WILL be effective:
78% of listeners don’t mind listening to podcast ads
62% would consider buying a product after hearing an ad
67% remember the ads they hear on podcasts
Source: https://www.buzzsprout.com/
Podcasting Is Worth Millions
The podcasting industry has grown dramatically even in just the past few years. In 2006 only 22% of Americans had heard of podcasts… but by 2021, this number had grown to 78%. Now, there are an estimated 120 million podcast listeners and the number is still growing.
Get Successful Fast
Podcasting is not just revamped radio. Investment on ad spend alone surpassed $1 billion in 2021. Marketers will need to think out of the box for their marketing strategies to be effective on podcasts over the next few years. Successful marketing on the platform has come from listeners receiving a more personalised experience than ever before. In fact, even chatbots are now being used in conjunction with podcasts to create immersive experiences for listeners.
Summary
The podcast industry is experiencing rapid growth. And thanks to an abundance of influencers now releasing more engaging content on the channel, more and more listeners will tune in over the next 5 years.
Better yet, getting involved with podcasting is still relatively simple. Marketers have an opportunity here to expedite brand growth and ROI. If you’re looking for success in this area, there are plenty of ways to capitalize on the booming podcast industry.
