Ben Smith, Founder, PRmoment.com
As you know we love a podcast at PRmoment so it was interesting to see some stats suggesting that consumers are willing to pay for podcast subscription models!
A report by 4DC has identified increasing opportunities for subscription‐based podcast content and suggests that podcasts should now be viewed as a central part of the communications mix.
With 7.1 million people in the UK listening to podcasts weekly, UK consumers have accepted the channel as a normalised entertainment platform.
As consumers grow accustomed to subscription packages across a multitude of services, from Netflix to Hello Fresh, it seems there’s a strong opportunity for podcasts to follow a similar model.
According to the research over half (59%) of listeners would be happy to pay for premium content at an average of £4 (£4.03) per month, or around £50 a year.
Combining the growth of podcasts with listeners’ willingness to pay a monthly premium for good content, subscriptions are set to be the next phase in podcast services.
Howard Kosky, co‐founder, 4DC says “The UK podcast audience are active, loyal, connected, growing in number – and possess valuable spending power. This data demonstrates podcasts are fast becoming a normal part of people’s routines. They are now an established information and entertainment service. As a platform for brands this is an ROI opportunity not to be missed.”
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