Edison Research's 2023 The Infinite Dial Shows Online Audio, Podcasting Hitting New Highs

2023 Report

EDISON RESEARCH unveiled its 2023 edition of THE INFINITE DIAL, the study of streaming and podcast listener behavior, in a webinar THURSDAY afternoon (3/2).

President LARRY ROSIN and VP MEGAN LAZOVICK emphasized the changes in both the audience and technology over the 25 years that the study has been conducted, from smartphones (nonexistent until 2007, now owned by 91% of respondents 12+, an estimated 260 million) to smartwatches (from 9% in 2017 to 14% in 2023) and smart speakers (from 7% in 2017 to 36% this year, although growth has been flat for the last three years). Social media usage has flattened out as well, illustrated by FACEBOOK usage peaking at 67% in 2017 and falling to 61% in 2023, although it is still the leader among social platforms; even TIKTOK's growth fell off in the last year, while LINKEDIN was the sole platform to show sharp overall recent increases and DISCORD also showing sharp growth among the 12-34 demographic.

Online audio listening continued to grow, with 70% of the 12+ respondents listening to online audio in the past week (200 million); 89% of the 12-34 demographic said they listened in the past month. The study also showed growth in audiobook listening, indicating a desire for long-form content.

Asked what online audio brands they recognize, PANDORA edged out SPOTIFY for the lead, followed in iHEARTRADIO and APPLE MUSIC. But asked which they listened to in the past month or week, SPOTIFY led, with YOUTUBE MUSIC, PANDORA, APPLE MUSIC, and AMAZON MUSIC next. SPOTIFY showed particular strength in the 12-34 demographic, with YOUTUBE MUSIC stronger among 55+ (the only demographic in which iHEARTRADIO reaches double digits).

The study showed a slight recovery in the percentage of those saying they've driven or ridden in a car in the last month, rebounding to 87% in 2023 as recovery from the pandemic and less remote work put people back into their commutes; AM/FM radio remained the top audio choice in cars, steady over the past three years and currently at 73%, but podcasts and online audio have both made inroads, with podcasts up from 30% in 2021 and 32% in 2022 to 38% in 2023, wile online audio is at 37% this year, up from 32% last year. Compared to 2013, however, AM/FM has dropped from 84%, while online audio tripled from 12% to 37%.

Podcasting awareness has finally broken the 80% threshold, with 83% (237 million) saying they're familiar with the term, up from 79% last year and 22% in 2006. As for how many are listening, the percentage who said they've ever listened to a podcast is up to 64% (183 million), and those who have listened in the past month rose from last year's dip of 38% to this year's 42% (120 million). Monthly listening is at a new high for men (46%), women were at 39%, up from last year but the same level as 2021. Growth in 12-34 and 35-54 demographics did not follow for those 55+, which showed a slight decline in podcast listening. The overall weekly podcast audience reported listening to an average of nine podcasts per week.

Among EDISON's takeaways were that the data seems to be in a "post-pandemic" phase with data returning to pre-pandemic behavior; online audio is hitting new highs; advertisers need to invest more of their budgets in audio; and "podcasting is 'back,'" hitting its highest numbers ever (90 million listeners per week).

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