More Than Just Music On Smartspeakers
Music streamers like Pandora, Spotify and Apple have seen a boon in their audience figures thanks to all those new listening occasions being created by smartspeakers in the connected home. It looks like this trend will continue for the foreseeable future, with smartspeaker purchases expected to grow by a compounded 50% annually from 2017-2020. That’s even faster than the adoption trajectory of smartphones from 2007-2010! Based on this forecast there’s reason to be bullish about all-things audio streaming.
Besides just music, other forms of audio content are coming to a stream near you. News publishers from NPR to Al Jazeera are starting to package their content into podcasts and other audio storytelling formats. Whether it be WaPo’s Daily 202 or Bloomberg’s Market Minute, print publishers who’ve already created snackable streamed video content are now reproducing it for an audio-only environment. This speaks to the power audio will now command in the new IoT universe we’ll all be living in.
As an aside, I wonder how many of these publishers will start to focus on streamed audio ads? Right now very few non-music pubs monetize audio. Given that audio is the only ad unit you can deliver on screenless smartspeakers, you’d think others would start to invest in this area.