Episode 59
Australian Podcasting Industry Trends for 2023
I am thrilled to delve into the latest statistics from Edison Research's Infinite Dial for 2023, focusing on the Australian Podcasting Industry Trends. I’m going to explore the key findings from the report, analyse their implications, and discuss the future outlook for podcasting in Australia.
The Rise of Podcast Listening in Australia
Let's start by looking at the growth of podcast listening in Australia over the past few years. In 2017, only 10% of the population listened to podcasts. However, with the advent of COVID-19 and people spending more time at home, podcasting gained significant traction. By 2021, the percentage of podcast listeners had risen to 26%. And now, in 2023, we see an even more impressive figure of 33% of the population, which translates to approximately 7 million people, listening to podcasts on a weekly basis.
This surge in podcast consumption indicates the increasing popularity and influence of the medium. As more people discover the value of podcasts, we can expect to see a rise in advertising and brand partnerships within the industry (which we’re already seeing). Podcasting has become a powerful tool for connecting with audiences, and brands are absolutely starting to recognize its potential.
The Changing Demographics of Podcast Listeners
When we examine the demographics of podcast listeners in Australia, some interesting trends emerge. The age group with the highest percentage of weekly podcast listeners is still 18 to 24, followed closely by the 25 to 39 age range. However, what's particularly noteworthy is the growing popularity of podcasts among older age groups.
In the past, it was common for individuals over the age of 45 to be unfamiliar with podcasts. However, the latest statistics reveal that the 40 to 64 age bracket is increasingly embracing podcast listening. This shift indicates that podcasts are no longer limited to a specific demographic and have the potential to reach a wide range of audiences.
Additionally, the younger generation, aged twelve to seventeen, has shown a significant increase in podcast consumption, with 36% of this age group now listening to podcasts. Platforms like TikTok have played a crucial role in driving traffic to podcasts among Gen Z listeners. If you're targeting this demographic, it's essential to leverage social media platforms and create engaging content that resonates with them.
Australia Takes the Lead in Podcast Listening
One of the most exciting developments in the Australian podcasting landscape is that Australia has overtaken the United States as the country with the highest per capita podcast listenership. While the US held the lead at 31%, Australia has now surged ahead at 33%. This shift signifies the growing influence and potential of the Australian podcasting market.
With more Australians tuning in to podcasts, content creators have a unique opportunity to capture their attention and build a loyal audience. However, it's important to note that as the industry becomes more competitive, podcasters need to deliver high-quality content and engage their listeners effectively. The days of casual, low-quality shows are fading, and podcasters must adapt to meet the rising expectations of their audience.
The Listening Habits of Australian Podcast Consumers
Understanding where and how people listen to podcasts is crucial for content creators and advertisers. Despite the easing of COVID-19 restrictions, the majority of podcast listening still occurs at home, with 87% of respondents indicating that they listen to podcasts in their homes. This finding suggests that listeners engage with podcasts while performing other tasks, such as cleaning, getting ready for the day, or doing household chores.
The fact that listeners' hands are occupied during these activities means they are less likely to switch off a podcast once they start listening. This extended engagement time allows podcasters to build a stronger connection with their audience and establish trust more quickly. It also presents an opportunity for businesses to advertise their products or services within podcasts, as listeners are more likely to absorb and retain information while engaged in other tasks.
The data shows that 64% of respondents listen to podcasts in their vehicles, and 54% listen while walking. Only 29% of respondents reported listening to podcasts at the gym. This suggests that people prefer different types of content for different activities, with more energetic and upbeat content being favoured during workouts.
The Dominance of Spotify and YouTube
When it comes to podcast listening platforms, Spotify has emerged as the leader in Australia, surpassing Apple and YouTube. With a 66% market share, Spotify has invested heavily in promoting podcasts on its platform, making it a go-to destination for podcast enthusiasts. However, YouTube is not far behind, with 61% of respondents indicating that they listen to podcasts on the video-sharing platform.
The rise of YouTube as a podcasting platform is significant, especially considering its recent introduction of a dedicated podcast tab. YouTube's commitment to promoting podcasts and its large user base make it an attractive platform for content creators. If you're looking to grow your podcast, it's essential to consider YouTube as a distribution channel and tap into its potential for reaching new audiences.
The Power of Audio-Only Podcasts
While video podcasts have gained popularity, audio-only podcasts still dominate the industry, with 86% of respondents indicating that they listen to podcasts without video. This finding is reassuring for podcasters who may not have the resources or desire to produce video content. It shows that the essence of podcasting lies in the audio experience and that listeners value the medium for its convenience and portability.
However, it's worth noting that 51% of respondents reported actively watching podcasts with video, while 43% listened with video playing in the background. This suggests that there is a significant audience segment that enjoys the visual component of podcasts. Content creators should consider incorporating video elements into their shows to cater to this audience and enhance the overall listening experience.
What Have We Learned
The Australian podcasting industry is experiencing rapid growth and shows no signs of slowing down. With 33% of the population listening to podcasts on a weekly basis, podcasting has become a mainstream medium for connecting with audiences. The increasing popularity of podcasts among older age groups and younger demographics presents exciting opportunities for content creators and advertisers alike.
As the industry becomes more competitive, podcasters must focus on delivering high-quality content and engaging their listeners effectively. The rise of Spotify and YouTube as dominant podcasting platforms highlights the importance of leveraging these channels to reach a broader audience. Additionally, the continued preference for audio-only podcasts indicates that the core value of podcasting lies in the audio experience.
Looking ahead, we can expect to see further growth and innovation in the Australian podcasting industry. As more brands recognise the potential of podcast advertising, we may witness an increase in partnerships and monetization opportunities. Content creators should continue to explore new ways to connect with their audience and leverage platforms like YouTube to expand their reach.
The Australian podcasting industry is thriving, and now is the perfect time to dive into this exciting medium. Whether you're considering starting your own podcast or looking to grow an existing show, the opportunities are endless. Embrace the power of podcasting, create compelling content, and connect with your audience in a meaningful way. The future of podcasting in Australia is bright, and you can be a part of it.
Resources Mentioned:
Edison Research Infinite Dial 2023
Gen-Z Podcast Listening Behaviour Explained
Understanding Your Listener Consumption Rate
Bamby Media Client Application
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