Today we released a compilation of the most meaningful data and trends driving Internet radio. We use the term “Internet Radio” broadly to define streaming services that allow on-demand music selection as well those that allow you to personalize the listening experience but do not allow specific track selection. This definition encompasses a wide range of services that include fan favorites iHeart Radio, iTunes Radio, Pandora, Rdio, Slacker, Spotify and many others.
From Scarcity to Abundance
The problem in trying to understand the market two years ago was a scarcity of data. Today the problem is more likely to be data abundance. The industry is no longer a novelty. Over half of the U.S. population now listens to Internet radio monthly and that has attracted attention of researchers, investors and advertisers. In addition to listenership growth, it’s worth noting that most consumers are accessing the ad-supported services and doing it on mobile devices. The result: Internet radio has rapidly become an important channel for reaching mobile consumers.
What Matters Now
Consumers have already made their choice. Increasingly they are accessing a variety of Internet radio services at all hours of the day. Advertisers are just starting to express their choices and the data from this report can help inform how to approach marketing through Internet radio. The report includes charts and analysis of:
- User Growth: from today at 160 million to 183 million in 2018
- Time Spent Listening Growth: displacing traditional audio
- Revenue Growth: from both subscriptions and advertising
- A Favorable Demographic: Internet radio hits all demographics but skews to tomorrow’s audience of Millennials and younger
- Shift to Mobile Listening: mobile is the driver of growth and future of listening
- Reaching Consumers on Mobile: 95% of listening is now on mobile devices
- Listening While Otherwise Occupied: 79% of music listening is done while multitasking
- What about Broadcasters: traditional advertising is falling while digital revenue grows
Whether you are an advertiser, publisher or analyst, we hope pulling all of this disparate data into one place can help create a clearer picture of Internet Radio Trends that are driving the industry today. If you have any questions, please contact us at firstname.lastname@example.org.