Jan 2020 RadioWorks Blog
Many have cited that 2020 will be audio’s year. Currently, 96% of adults listen to audio entertainment each week and 75% of those listening hours come from live radio. This doesn’t come as a surprise to us, having witnessed the audio industry steadily transform itself year after year by embracing the modern world. So as we enter a promising new year, we thought we’d take a closer look at factors likely to push the audio advertising industry forward into 2020.
Voice tech is paving a new pathway for consumerism as interactions with smart devices become part of our daily routine. Whether it’s listening to radio, streaming music or a podcast, or simply acquiring the daily weather forecast, smart speakers have created new streams for branded information to reach audiences.
According to Canalys smart speakers will climb to 500 million by 2023. And as audiences move towards smart devices, so will advertisers. What’s more, the opportunity for brands to dominate the smart speaker space is still very open, so we hope to see many brands capitalise on this rare advantage.
Radio remains one of the most effective ways to reach an audience, and time after time has demonstrated its ability to adapt and deliver results. It goes without saying that radio should be considered a key advertising channel in 2020. This emotional and influential touchpoint is still the fastest growing and most trusted medium in the UK. Not only that, radio is still innovating and reinventing itself to this day, as we’ve seen groups embracing new digital distribution channels with the expansion of on-demand services and podcast offerings.
We look forward to the next ten years as we predict that radio will become even more widely accessible to the nation. This agile and adaptable medium is committed to finding new ways to engage its listeners, which is precisely why this channel is still so attractive to advertisers in the first place.
As we move into the new decade, we enter a whole new age for podcasts. This category continues to thrive in the UK as more and more listeners crave its rich and relevant content. Listeners are more engaged with content in this high-trust environment than many other mediums and as a result “76% of listeners say they have acted on a brand message within a podcast”.
Much like with smart speakers, as podcasts reach more listeners, we’ll see many more advertisers embracing the medium. 63% of marketers say they plan to increase spend in podcast advertising over the next 12 months so we can certainly expect to see more investment in this growing space 2020.