A Streaming Music Company’s Take on the State of Streaming
It’s a good time to be a music fan. Listeners have never had so much variety when it comes to playing and discovering the music they love. No matter if you’re sitting in front of a laptop or taking a stroll, everyone now has access to an endless, personalized playlist of music--thanks to streaming. Even artists who were once wary about the shift to streaming are reaping the benefits from having their music more accessible by fans. Did anyone catch the scene in Taylor Swift’s new music video of her raiding the bank vault of a faux music streaming service? Ya, you could say streaming is here to stay.
Undeniably, streaming has had a profound impact on the entire music ecosystem. Today’s music fans have different expectations because they (quite literally) never have had to endure a song they didn't like. Between the personalization of streaming music and the continuing surge in time spent with mobile apps, we can confidently say that streaming has gone mainstream. According to Edison Research’s highly-respected Infinite Dial report, the majority (53%) of Americans now stream audio every week.
Streaming Music Is an Age-Agnostic Activity
New Streaming Locations Increase Listening
The shift towards digital media in the car is further evidence that streaming audio has become an indispensable source of entertainment while driving. This also helps explain why the car is one of Pandora’s fastest growing listening platforms, with monthly unique visitors jumping 64% in the last year.
But perhaps the most interesting connected technologies driving streaming are happening in the home. A fast-growing source of music streaming happens on the millions of smart TVs, over-the-top (OTT) media boxes like Roku and Apple TV, and whole-home audio systems like Sonos. Even the sexy new entrants to the home, smart speakers from Amazon and Google, are most often used to play music.
The market penetration of smart speakers may still be small, but sales are brisk. A recent study by Park Associates found that the adoption rate of smart speakers with integrated voice assistants grew 140% last year alone. Music is one of the leading activities on these devices and, among Pandora listeners, listening on smart speakers has grown by a whopping 282% year-over-year.
Grab Them by the Ears
This also benefits advertisers looking to “grab” an audience with innovative audio advertising solutions. Overall, streaming is a superior ad platform thanks to effective targeting, a better user experience and a higher level of accountability--not to mention that reaching consumers through the passion point of music is a good place to be for brands.
Streaming also brings the power of audio storytelling together with the effectiveness of digital advertising so ads feel more relevant, less interruptive and more easily measured against the brand’s KPIs. Digital audio ads, like those served on Pandora, can even be targeted to listeners engaged in certain activities, such as commuting, working out or preparing for bed.
Are You Ready To Learn More?
And, good news! If you didn’t get a chance to check out the inaugural edition of the Definitive Guide to Audio, there’s still time. Click the image below to download your copy today, and walk away with valuable knowledge about audio advertising that can immediately be applied to your next campaign.