Podcast Reach Matches TV With Younger Demos

Last week, Edison Research released their annual Infinite Dial study. When Edison Research started the Infinite Dial Study in 1998, the goal was to understand how Americans use emerging forms of audio and new media.

In the first 1998 study, a tiny number of consumers had ever tried audio streaming over a dial-up connection. 26 years later, the Infinite Dial is the longest-running study of consumer digital audio use.

 

The results of Edison Research’s 2024 Infinite Dial study contain some compelling insights for marketers and media agencies:

Takeaways for marketers:

• No longer is podcasting a niche platform lacking scale: Podcasting deserves a larger role in media plans as opposed to “test and learn” experimental buys. 135 million Americans, 47% of persons 12+, are reached monthly. Among demographics such as persons 18-34, 18-49, and 25-54, monthly reach is in the low 60% range.
• It is feasible to consider shifting TV budgets to podcasting given that podcast 18-34 reach performance is as big as TV.
• Brands targeting women should give podcasts a starring role in media plans: Female podcast audiences have hit record highs in habituation and reach.
• Adopt agency media legend Arnie Semsky’s “5% solution” to podcasts: Allocate 5% of digital ad budgets to podcasts.

Among 18-34s, podcast reach is now as big as TV

It wasn’t that long ago that marketers dismissed podcasts for lacking scale. No longer.

Among 18-34s, podcast weekly reach (48%) from Edison’s 2024 Infinite Dial is nearly as large as TV (50%). The big player in 18-34 weekly reach is AM/FM radio at 77%. (The AM/FM radio and TV data is sourced from Nielsen Comparable Metrics for Q3 2023.)

Podcast female audience growth has been explosive

• From 2020 to 2023, female monthly podcast reach remained in the mid to upper 30% range. This year, female monthly podcast reach surged +15% from 39% in 2023 to an 45% this year.
• Podcasting is America’s fastest growing audio platform. Ad-supported music streaming audiences for Spotify and Pandora peaked in 2016. All of the growth in audio is now coming from podcasting.
• Despite this soaring audience growth, podcasts only represent 1% of total national ad spend, per Guideline’s Standard Media Index reporting.