RadioWorks RAIN Summit roundup

Nov 2019  RadioWorks Blog

rain summit

Missed last week’s annual RAIN Summit Europe? Keen to get a better understanding of where this digital audio thing is going? If you answered ‘yes’ to these, you’re in luck.

This year’s RAIN (Radio-and-Internet-News) conference, held at the Congress Centre in London, exhibited the ever-growing digital audio space, covering everything from podcasts to on-demand streaming and smart speakers. In case you missed it, we’ve summed up the top RAIN Summit stats and insights to help give you a better understanding of why consumers are embracing these new streams of media, along with emerging commercial opportunities.

Spoken Word

Brits are listening to more spoken word audio each year with podcasts, in particular, becoming increasingly more worthy of our time. Honestly, it’s quite difficult to imagine a world without podcasts and thanks to its recent surge in popularity (9.4M weekly listeners), it’s difficult to stop talking about podcasts either. This sudden passion for pods is echoed by the launch of ‘Podcast Radio’ – a new 24hr podcast radio station in London, set to play nothing but podcasts.

With that said, the podcast audience is notoriously hard to reach. Listeners admit that they sometimes avoid Television (63%), Billboard (61%), Digital (66%) adverts. This ties in well with the fact that a whopping 86% of podcast listeners actually subscribe to premium video-on-demand services where they are exposed to little, to no ads. Nevertheless, according to Declan Moore (Wondery) podcast advertising creates more memorable ads for brands (+38%) compared to social media. It also found the same case with television advertising. So remarkably, you might find that podcasts could provide a way to tap into this social media, Netflix and Prime loving audience.

Smart Speakers

The world is no stranger to smart speakers. Consumers are wanting more voice assistant access in the home, with over 21-million smart speakers shipped in Europe in Q1 of this year. IDC, projects that in 2019, 815-million devices will be shipped worldwide. What’s more, smart speakers could be becoming the fastest-growing connected device category in the world according to Canalys, stating that these clever devices could overtake wearables in 2019 and tablets by 2021.

From a consumer perspective, the rapid growth of voice assistants isn’t entirely shocking as it comes at a time when people are craving more convenience and as little hassle as possible. So, what are the implications for advertisers? Audio, as we know, has a unique ability to cut through the noise, delivering messages in relevant ways and at meaningful moments. Using smart speakers to target listeners while they’re actively engaged with their voice companion is a great way to achieve this.

Strategy

Our very own London Media Director Chevy joined a lively discussion at RAIN’s ‘Agency Roundtable’ panel. He explained that it is important to have a clear strategy before buying and planning any digital audio, including podcasts.

Chevy says: “RAIN’s main focus this year was most certainly podcasts and the unique engaging personal formats that exist for advertisers seeking a direct conversation with listeners. Greater insight and response detail are clearly required to match the existing digital landscape, but massive leaps are being made in this space to make digital a principle part of any audio planning.”

 

 


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