With nearly 40% of the US population now regularly listening to Streaming Audio, it is clear this medium can no longer be considered ‘optional’ by advertisers who employ broadcast radio in their media mix. Beyond the opportunity for advertisers to reach consumers through an additional touch point, the true value of Streaming Audio comes through the increase in brand awareness, ad recall and – most importantly – ad response! While the reach might not be as large as other channels within the Emerging Media sector, the numbers show this listening audience is truly engaged and committed to the platform. Outside of the increasing consumer adoption, below are four quick points that drive home the value of streaming audio:
1. Consumers are listening so much more than we thought: For years, the working assumption on Streaming Audio has been that it caters to the 9-to-5 crowd who listen in bursts throughout the workday. However, recent studies have shown a very different story in the usage patterns of consumers.
2. Streaming Audio is not a passive activity: The working assumption has been that Streaming Audio has been a passive medium is just not true – 59% of listeners keep the player up throughout their listening session. Personal taste and content control make this a lean-forward activity for consumers, and with 60% of listeners shopping for or researching a product/service Online, this is a great opportunity to get a message in front of them!
3. Streaming Audio is a very effective complement to Broadcast Radio buys: Not only does Streaming Audio provide advertisers with an engaged audience, but it also provides a serious lift to campaigns when coupled with either Broadcast Radio or Online display.
4. Premium subscription services get the hype, but not the scale: Even with the ‘popularity’ of sites like Pandora Premium and Spotify, 88% of consumers don’t pay fees for premium access and ad-free content.