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With the number of podcast listeners up 3.2 million to 5.9 million in just five years, the audio revolution is well and truly upon us. And it’s unlocking a host of opportunities for businesses.
We’re becoming a nation of podcast listeners and it seems that most of us are tuning in to a comedy series, followed by those about music, TV and film.
Here at Fora, we’re are also fans of podcasts for business too. Opportunities are huge and as the space continues to grow, we think you should consider putting audio content higher up on your communications agenda.
Podcast listeners genuinely engage with the content they hear, with 88% of subscribers listening to every episode in a series. Having such a captive audience opens up the opportunity for businesses to educate and influence, helping to build brand awareness and a community of advocates.
It’s been widely reported that audio has an ‘intimacy effect’, with listeners feeling they have a connection to their podcast hosts. When you’re unable to visualise the person speaking, such as on TV, it feels more like the host is talking directly to you. The impact of the audio’s ‘intimacy effect’ is profound. In an IAB podcast advertising study, 55% of participants said they felt positively towards podcasts ads when the hosts introduce the products. For businesses looking to advertise, podcasts could be one of the most effective platforms.
Although we’re encouraged to avoid too much screen time, we’re encouraged to read because it’s informative. With research showing that we absorb just as much knowledge from listening as we do from reading, podcasts are an effective way to learn something new. Podcasts also lend themselves to distributing health and wellbeing content, because the one-to-one channel creates a safe space to discuss difficult topics. The likes of Happy Place from Fearne Cotton, The Struggle Bus and The Hilarious World of Depression are unlocking taboo mental health subjects, encouraging people to open up about their experiences.
As a technology driven platform, the podcast industry is expected to keep growing apace as advances make it easier to tune in to a series. To give an example, around 22% of podcast listening is done in the car, which is highly likely to rise when in-car technology creates a more seamless experience with our devices.
Want to start your own podcast but don’t have the kit or editing knowledge? Well fear not: You can book a fully-equipped podcast studio through Fora’s partner Soho Radio – all you need is your podcast idea and we’ll cover the rest. The studios are located within Fora – Soho and all Fora Residents receive a discount on the cost per hour. You can find out more here.