New data from marketing firm CMI and music streaming company MusicUnify reveals that audio streaming has steadily risen in popularity since a peak in video streaming during the summer of 2018. While video streaming has always been popular, it is now taking a backseat to the more intimate experience of listening to music. U.S. consumers are spending less time on mobile video apps like YouTube and more time on music-focused apps like Spotify, Pandora, and Apple Music.
In response to this trend, businesses should consider how they can capitalize on the revitalization of audio streaming services with their own content or products. Even businesses without an audio element can benefit from launching a marketing campaign geared towards younger audiences who seem to be abandoning traditional media for online alternatives on their mobile devices.
Streaming services have been growing in popularity for several years now, but it appears that their honeymoon period is coming to an end. A recent survey found that one in three current streaming subscribers are thinking about canceling or switching to another service. This is a worrying sign for the streaming market and its future growth.
If you read the article title and thought ‘doesn’t everyone think about canceling their streaming service from time to time?’ – you’re absolutely right. However, the scope of this survey goes beyond your typical disgruntled customer who thinks about ditching their service once a month. According to the results, 32% of respondents said they were thinking of canceling their current streaming service at least once in the next six months, while another 18% are considering switching services.
In the second quarter of 2022, Netflix lost 1 million subscribers. This was the first time since 2016 that Netflix had experienced a decline in subscribers, and the loss was largely attributed to price increases. Netflix is planning to offer cheaper subscriptions that run ads in order to gain back some of the lost users.
Audio continues to grow because this is a platform that has easy access both from the Internet and mobile phones.
Secondly, people are preferring the audio medium because it allows them to listen to the content at their own convenience, on demand. You don’t have to watch content live, and you can even often get a transcript of the video if you’re not up for listening.
There are also a lot of benefits to listening over audio instead of reading text. First of all, it’s much easier to take in information when it’s heard than when it’s read. This means that it takes less time to understand the information and remember it.
Also, when you listen to something over audio, you’re not looking for specific words or phrases that need to be there. Your mind can focus on grasping the bigger picture, which allows you to retain more information.
Finally, listening over audio also helps with your learning abilities! It increases your attention span and helps your brain stay focused on one thing without being distracted. Because your eyes aren’t darting back and forth between lines of text, you can stay tuned in throughout the whole piece!
So yes Audio will continue to grow in popularity because of these qualities.
As we all know, ads are a promotional activity designed to enhance the visibility of a product or service. They are a way for businesses to promote their products and services to potential customers.
So if an ad is more attractive to advertisers, it means that it is more likely to get their attention and make them want to buy your product.
Well… there are many reasons why audio ads are more attractive to advertisers than video ads:
1). Audio ads are more cost-effective.
2). There is no waste of time watching long videos.
3). Audio ads can be listened to while multi-tasking.
4). No need for video players or plugins. The only requirement being, a sound player that comes with all phones!
5). These audio ads have an amazing ability to penetrate deep into our psyche and stay there.
For professional help creating and running your national radio ad campaign, work with the team at Hybrid Media. Put our team’s 300+ years of marketing and media experience to work for you.
Direct Response advertising focuses on delivering ROI by quickly capturing the attention of listeners and leading them to a call to action. At Hybrid Media, we purchase millions of dollars of low-cost media each week, resulting in significant savings for all of our clients. How much can you save?
Contact us for a free consultation today!
Contact us today to find out how much you can save by working with the radio advertising experts at Hybrid Media to create and run your national radio campaign.
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