The convenience of streaming for instant access to content has resulted in rapid growth of online video, audio and gaming entertainment. Streaming video has already surpassed traditional television watching, and audio streaming is heading in the same direction. Music streaming-focused companies like Pandora and Spotify currently hold valuations of billions of dollars. Podcasts (essentially digital talk radio) and audiobooks continue to grow in usage as well; consumer spending on audiobooks exceeded $1 billion in 2019 while podcast advertising spend is forecast to surpass the $1 billion benchmark in 2021. With the exception of premium paid subscription services and audiobooks, most content is available free to consumers supported by advertising.

The streaming audio industry will become an increasingly important advertising channel. Marketers that neglect streaming audio will miss out on reaching a growing large, diverse and engaged audience.

• The impact of COVID-19 on consumer listening behaviors and digital advertising strategies.

• Streaming audio’s key demographics and ideal targets for marketers.

• The streaming audio industry landscape, key players and brands.

• Critical consumer streaming audio behaviors and price thresholds.

This Report was written in October 2020. Consumer research was fielded in August 2020 and reflects attitudes and behaviors as the country continued to re-emerge from the COVID-19 lockdown phase.

This Report covers internet-based streaming audio services which include: music streaming, podcasts and audiobooks. For the purposes of this Report, Mintel has used the following definitions:

• Music streaming includes both on-demand music content (ie consumers can select specific songs), and service-curated content based on consumer input.

• Podcasts are defined as episodic spoken word audio content, and can be characterized as on-demand talk radio.

• Audiobooks are recordings of a book or other published literary content read aloud.

Readers of this Report may also be interested in Digital Trends – Fall: Incl Impact of COVID-19 – US, October 2020, Digital Trends – Spring: Incl Impact of COVID-19 – US, April 2020 and Streaming Audio – US, October 2018.

The first COVID-19 case was confirmed in the US in January 2020. On March 11, the World Health Organization declared COVID-19 a global health pandemic, and on March 13, President Trump declared a national emergency in the US.

Across the US, state-level stay-at-home orders rolled out throughout the months of March and April, remaining in place through May, and in some cases June. During this time, referred to as lockdown, non-essential businesses and school districts across the nation closed or shifted to remote operations. This resulted in significant disruptions in consumer routines like the work commute, which impacted streaming audio listening routines. However, consumers have widely adjusted to their new normal, and listening duration times have returned to pre-COVID-19 levels.

During re-emergence, all 50 states have relaxed stay-at-home orders and allowed businesses to operate with varying levels of social distancing measures in place. The continued spread of COVID-19 infections has driven some states to slow down or reverse course on reopening plans. Mintel anticipates the US will remain in a state of flux through 2021, until a vaccine is available.