Trust Revolution: Podcasts Crowned Most Credible Medium in 2024 SiriusXM Survey

It was a surprise to many at Advertising Week-New York as the latest survey from SiriusXM flipped the media world upside down, and podcasting was declared the new king of the trust factor. An unheard-of 40% of those surveyed bestowed their trust on podcast content, pushing this new-ish audio format past other influential media-such as AM/FM radio and even television. This tectonic shift in consumer trust not only reshapes our vision for information but also flags a golden opportunity for marketers-a medium that's 23 times more authentic than social media.

The Details: Edison Research, for SiriusXM, has polled over 3,000 Americans aged 13 and above between May and June of 2021. It shows that podcasts are the most-trusted medium against AM/FM radio and traditional TV. The study throws light upon listeners who are willing to engage with podcast ads, hands-free listening is common, and the medium could be a great way to reach people during prime shopping hours. This report also highlights how the combination of SiriusXM with other media channels increases reach to offer more ways for advertisers to effectively reach their target audiences.

The Key Highlights:

• 40% of those surveyed see podcasts as the most trustworthy medium.

• 58% said they would not object to ads if the content were free or low-cost.

• Over 80% of the consumption of podcasts is hands-free and screenless.

• Audio advertisements elicit 50% more attention compared with other formats.

• SiriusXM can really help scale up the reach when combined with other media channels.

Our Analogy: Visualize the mediascape as a city in which various platforms are like neighbourhoods competing very hard for the confidence of its residents. For years, traditional TV and radio were the high-class districts in which people felt safest.

All of a sudden, podcasts came along-the new cool neighborhood everyone is talking about. Not only is it hip, but it is where people feel most at home, trusting their neighbors-aka hosts-and even welcoming door-to-door salespeople-aka advertisers. As more citizens-listeners put down their roots and invite their friends into this podcast neighborhood, it is fast becoming a hub to be in, where genuine relationships and clear information are to be had.

Our View : We consider this finding of the survey revolutionary as podcast producers. The fact that podcasts have such high trust levels validates them as a powerful tool for communication and influence. This opens an unparalleled opportunity to not only entertain but also to inform and shape public opinion with our content. But most of all, the willingness of listeners to engage with ads bodes particularly well, opening up new avenues for monetization without alienating our audience.

But great trust has to be matched by great responsibility, so the saying goes. It means that we have to ensure the authenticity and quality that have rightly earned podcasts this enviable position are safeguarded. Now, of course, comes the challenge in balancing increasing demand for advertising in our medium with how to preserve that intimate, trusting nature of our content. That perhaps involves exploring new ways of ad delivery, including integrated and native advertising seamlessly blending into the listening experience.

With this in mind, hands-free listening has significant implications for creating an engaging audio experience that does not rely on a screen. We can take this into our methods of production and push ourselves further in the development of our sound design and narrative structures to engage a listener without the need for visuals.

Finally, there is incremental reach via partnerships with platforms like SiriusXM that are creating some exciting opportunities to expand our audiences and extend our reach. As producers, we should seize these cross-platform opportunities, where it makes sense, in order to maximize our reach while sustaining the uniqueness that makes podcasts so trusted and loved.

With this, it can be concluded that podcasting does have an impact, and this report challenges us to continually work on our skills so we sustain the faith of our listeners in us.

Full report below 👇️ 

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