As podcast listenership increases, the radio industry has started to commit more resources toward podcasting.
Americans are frequent podcast listeners. Edison Research found that at least one quarter of the American population listens to podcasts weekly and podcast spending is expected to cost advertisers close to $700 million.
While apps like Spotify have dominated the podcast industry, radio stations are starting to tap into this popular medium. Some organizations such as Hubbard Broadcasting and Emmis Communications have recently invested with podcast producers and networks while others such as Beasley Broadcast Group have created its own in-house podcast team. iHeartMedia, the largest radio station owner in the country, has invested in its own podcast producers and is launching its own original podcasts.
The rise of podcasts in radio can be seen in the large increase of on-air podcast advertisements from 2018 to 2019. According to a report from Cumulus Media’s Westwood One, only 11 podcasts were promoted on stations in the last quarter of 2018, but that number jumped to 106 podcasts being promoted in the first half of 2019.
As the radio industry has embraced podcasting in 2019, Americans are starting to take notice. The same study from Westwood One indicates that close to 50% of Americans have heard a podcast advertisement on the radio.
The world of audio consumption is in an exciting phase and becoming a rapidly expanding industry.