The term podcast first emerged in 2004 and its origin comes from the terms iPod and Broadcast. Since then, the format has evolved substantially and, today, it is one of the fastest growing ways to consume content.
In its second Stitcher Podcasting Report, the firm found that podcast ratings are skyrocketing. 57 percent of Americans have listened to a podcast, and these listeners offer a window into consumer behavior that has changed a lot in the last 15 months. The audience is now younger, more diverse, and spread across the country.
In the case of Mexico, it is predicted that by 2024 there will be 42.8 million listeners, which will place us as the second largest market in Latin America after Brazil. This also makes it a very profitable industry, as advertising revenues have been growing in double digits in the last six years.
The pandemic also changed audience habits. At first, the best listening hours were aligned with peak commuting hours, which have been replaced by lunchtime, between 11 a.m. and 2 p.m. Similarly, housework and gardening have replaced commuting like the main activity carried out by the so-called podescuchas.
In terms of user taste, the younger generations leaned towards comedy and talk content (13-34 years), while news and politics performed better with the older generations (35+ years).
“Podcasting is a powerful medium that has not only prevailed, but thrived in the midst of the pandemic as people sought a way to connect during periods of isolation,” according to Amy Fitzgibbons, Stitcher’s chief marketing officer. “The [informe] takes an in-depth look at podcast listeners and what their behaviors teach us. We know that podcasting is where consumers continue to come looking for trustworthy content. “
Spending on podcast advertising in Mexico is expected to continue to grow year over year. Estimated figures for 2020 were around US $ 19 million. By 2024, this spending is expected to reach US $ 63 million. Mexico concentrates some of the most popular podcasts in Latin America.
According to a study carried out in 2020 on the consumption of podcasts in Mexico, the number of listeners of has also been increasing steadily. With this trend, the number of poor listeners is expected to reach 31.5 million in 2022, reaching close to 42 million by 2024.
The big takeaway from consumer behavior before, during, and after the pandemic is that podcasting has tremendous growth ahead of it. Consumers love to listen and will integrate it into their lives where needed. Advertisers are attracted to the flexibility to adjust their messages on the fly. Most importantly, brands continue to switch to podcasting simply because it works: When they insert an ad, the cash register rings, analysts say.