GoLocalProv | The rise of digital advertising and the growth of podcasts signal a rapidly evolving medium
Tuesday 03 August 2021
More money is now being spent in this country on digital advertising than on TV and print advertising, and audiences for podcasts online are growing, while audiences for radio are starting to decline. As news, information, and entertainment continue to expand online and decline into more traditional formats, these are among the most revealing trends outlined in key takeaways recently released by the Pew Research Center on l state of the news media in 2020.
According to eMarketer’s estimates, nearly 2 in 3 (63%) of advertising dollars were spent digitally in 2020. This represents more than $ 150 billion spent on digital advertising in 2020 alone, an increase of 20 billion dollars over the previous year. In each of the past 3 years, digital has taken a growing and now dominant share of the advertising pie, going from 49% in 2018 to 55% in 2019 to 63% in 2020. Everything indicates that this growth will continue at the same time. as an ad market share and in absolute dollars.
An exponential increase in mobile advertising is driving the emerging dominance of digital advertising. “Between 2011 and 2020, mobile advertising revenue grew sixty-fold, from $ 1.7 billion in 2011 to $ 102.6 billion in 2020,” Pew reported. “Computer advertising revenue increased from $ 30.3 billion to $ 40.6 billion during the same period. In 2020, mobile ad revenue accounted for two-thirds of digital ad revenue on mobile and desktop devices, up from 5% in 2011. ”
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Another telling, albeit less pronounced trend, podcast audiences continue to grow, while radio listening, which had leveled off, remaining roughly the same in recent years, declined in 2020. Audience of podcasts has increased by about 4 times. over the past decade. “In 2021, 41% of Americans aged 12 or older listened to a podcast in the past month, according to” The Infinite Dial “report by Edison Research and Triton Digital, up from 37% in 2020 and only 9% in 2008 ”, detailed Pew
NPR is a good example, according to Pew, noting that its “weekly podcast audience has nearly doubled in the past two years, from around 7 million in 2018 to around 14 million in 2020”. NPR now earns more sponsorship revenue from its podcasts than from its radio shows.
In contrast, audiences for AM / FM radio fell from 89% of Americans aged 12 and over in 2019 to 83% in 2020, according to Nielsen data, as benchmarked by Pew. In 2009, more than 9 in 10 Americans listened to the radio. At least part of last year’s decline can likely be attributed to the sharp reduction in daily commutes due to the pandemic, as many people listen to the radio in their cars. But with remote working at least part of the time becoming a permanent feature of the lives of a substantial percentage of Americans, commuting time and associated radio listening are unlikely to bounce back completely.
The digital taking the lion’s share of the advertising pulp and the rise of online podcasts underscore a global system of media and information in which we can all select our own content options from a seemingly endless array of possibilities and, therefore, the public continues to fragment. . While the rich and often high-quality information and entertainment available is a definite advantage, our own all-too-human predilection for watching and listening to content that confirms and amplifies our existing worldview – living in our own media world – makes a conversation. national where we listen to people with whom we may disagree, we realize that they may have a point or two and then come to increasingly difficult principled compromises.
We have yet to figure out how to use the interactive features of social media and the internet that can enable conversations across geographic boundaries to create a constructive common national dialogue and eliminate misinformation that is too prevalent. This is the task ahead, so that we can turn all this rich information at our fingertips into a constructive tool of democracy that empowers citizens – not a device to further divide us and spread lies.
Rob Horowitz is a strategic and communications consultant who provides general consulting, public relations, direct mail and survey services for national and state organizations, various nonprofits, businesses, elected officials and candidates. He is an adjunct professor of political science at the University of Rhode Island.