After Edison Research’s expanded podcast findings in this year’s Infinite Dial report, more details are being released about the platform’s mainstream break. “The Podcast Consumer 2024” highlighted a highly engaged and growing audience.
Edison Research VP Megan Lazovick presented the findings in a May 16 webinar, showcasing key data on weekly and monthly US podcast consumption.
The report reveals that 67% of the population aged 12 and older have listened to a podcast, with 47% being monthly listeners and 34% tuning in weekly. Engagement has also surged, with podcasts now accounting for 11% of daily audio time for those aged 13 and older, a significant increase from 2% in 2014.
23% of weekly podcast listeners spend 10 hours or more listening to podcasts each week.
Edison found broad generational appeal, with 29% of children aged 6-12, 59% of individuals aged 12-34, 55% of those aged 35-54, and 27% of those aged 55 and older listening monthly. The audience is also diverse and increasingly female, with 48% of Black Americans and 43% of Latino Americans listening monthly. Additionally, 45% of US women are monthly podcast listeners, and 32% are weekly listeners.
The data also highlights the average podcast consumer is a highly coveted audience for advertisers, being both affluent and educated. Fifty-six percent of monthly podcast listeners have an annual household income of over $75,000, compared to 48% of the general U.S. population. Moreover, 49% of monthly podcast listeners are college-educated, compared to 44% of the overall population.
46% of weekly podcast listeners have purchased a product or service after hearing an ad on a podcast, showcasing the medium’s effectiveness in reaching receptive audiences.
Podcast ad revenue growth was modest in 2023, but the Interactive Advertising Bureau forecasts it will exceed $2 billion for the first time in 2024 and nearly $2.6 billion by 2026.
Lazovick commented, “Every element in this report has been chosen with a single goal in mind: to support and advance the podcast industry. Because great content, and the creators behind it, need to be supported. Today’s insights, alongside industry metrics, are valuable tools for anyone looking to connect with their audiences more effectively.”
