A new Acast global study on podcast trends reveals that audio consumers are more willing to listen to podcast ads than commercials in other media. The report includes two research studies on 13 emerging and established markets, including Canada, and 2,600 podcast listeners.
The study found that 64% of respondents prefer to listen to ads on podcasts, while 59% watch them on streaming TV. Fifty-eight percent say they listen to commercials on radio, while 54% watch cable TV ads.
That level of ad consumption on podcast translates into purchases, according to Acast. Some 23% of Canadian listeners have made a purchase based on an ad in a podcast, and 20% have done so more than once. Listeners are more likely to be influenced by targeted ads in the feed than by direct posts from brands and promotional posts from influencers.
The report also showed that podcast consumption is higher compared to other media: 81% listen to podcasts, while 77% watch streaming TV. Around 75% consume streaming music, 65% social media and 54% audio books. The majority listen to podcasts on Spotify (43%), YouTube (38%) and Apple (12%).
More than 95% of respondents expect to spend the same or more time listening to podcasts in the next six months. Among daily podcast listeners in Canada, the U.S., the U.K., Australia and Sweden, nearly 50% expect to increase their podcast listening time in the next six months. For radio, only 27% say the same.
According to the study, social media is an essential part of the discoverability of podcasts and audience relationships with podcast creators. The majority of respondents say they find new podcasts through social networks (48%), while 40% discover them through YouTube and 34% through recommendations from friends. Eighteen percent say they find them through a mention on a website. Nearly 73% of people in established markets follow a podcast creator on social media and 62% say they have considered buying a product promoted by social media influencers.
Most daily listeners also say they feel a personal connection to their favorite podcast hosts, with 22% of daily podcast listeners in Canada saying they have attended a podcast host’s live event.
