Podcasts continue to take a growing and significant share of the amount of time Americans spend listening to ad-supported media. Edison Research says podcasts now account for 19% of those hours, with the medium holding an even larger share among young demos.
“Almost one out of five tuning minutes are now going to podcasts,” says Cumulus Media/Westwood One Chief Insights Officer Pierre Bouvard. Edison’s latest findings reveal that nearly a third (32%) of time spent with ad-supported audio among adults 18 to 34 goes to podcasts, and roughly a quarter of time goes to podcasts among adults 18 to 49 (26%) and 25 to 54 (23%). “Even among 35- to 64-year-olds, a 16 share is going to podcast. So not only is podcast strong in the younger demographics, but its appeal is spreading older,” Bouvard says in a video detailing the findings.
Overall, Edison says 69% of all ad-supported audio time goes to AM/FM radio. And across major demographics, AM/FM radio is the leader in ad-supported listening with shares ranging from 50% to 80% as even a majority of the youngest age group continues to give a majority of their listening time to radio when they’re consuming ad-supported audio.
“Radio is exceptionally strong,” Bouvard says. “AM/FM radio continues to have dominant presence as the leading ad-supported audio platform among younger demos.”
The data also reveals that podcasting continues to take an even bigger share of listening time among Hispanics. Edison says among Hispanics 18 and older, the podcast share of ad-supported listening time clocks in at 28%, well above the 19% for the population overall. The number climbs even higher among young adults, where podcasting accounts for nearly half (48%) of their listening time, compared to roughly a third of listening time for 18- to 49-year-olds and 25- to 54-year-olds.
“Podcasts are now the number one ad-supported audio platform among 18- to 34-year-old Hispanics. That is a stunning new finding,” Bouvard says. “Going back to 2017 and comparing to the most recent Edison Q3 report, the podcast shares have quadrupled among Hispanics.”
The Edison research shows that in 2017, podcasts had a 12% share of ad-supported audio time among Hispanics 18 to 34 vs. the current 48% share. Much of that time apparently has come at the expense of AM/FM, which among this age group has seen its share of listening time drop to 35%, down from 60% seven years ago. At the same time, Bouvard notes shares for listening to ad-supported Pandora have “collapsed,” while shares of ad-supported Spotify have risen three points to 13%.
Podcasts may have emerged as a force to be reckoned with among Hispanics, but the medium is lagging among Blacks. Edison says podcasts capture an 11% share of listening time to ad-supported audio among African Americans, which is less than the 19% share for the overall population. The rate is slightly higher among Blacks aged 18 to 34, where 27% of listening time goes to podcasts.
One reason for podcasting’s slow growth among Blacks may be the strength of radio. Edison says 77% of overall listening time to ad-supported audio goes to AM/FM radio, reflecting the longtime strong relationship that African Americans have had with radio.
“The shares for radio are actually higher among African Americans than among the general markets,” Bouvard says. “So if you are targeting African Americans, all roads absolutely lead to radio.”
Edison’s latest Share of Ear report also shows that podcasts have become the second most listened-to medium in the car. It says one of every ten minutes spent with ad-supported audio goes to podcasts. Broadcast radio remains the dominant in-car force, however. It captures 81% of in-car listening time.
“The key finding over the past decade is the stunning strength of AM/FM radio in the car,” Bouvard says, noting that over the past eight years the share of in-car listening to radio has remained “remarkably consistent” despite new technology threats. Edison says in 2017, AM/FM radio had a 91% share.
Smart speakers have also seen more podcast listening, with Edison saying that one in five minutes that Americans spend listening to ad-supported audio on the devices goes to a podcast. That compares to 50% for AM/FM radio. And while Spotify has certainly seen its usage grow, Bouvard points out that most of that has come from subscribers, not listeners to its ad-supported service as 73% of Spotify’s audience is unavailable to place advertising. “Unfortunately, much of the Spotify audience is out of the reach of advertisers,” he says.