With the growing popularity of music OTT apps and the diversity content available on them, audio streaming trends for 2020 are more relevant than ever for brands and marketers.
From people going around shouting in marketplaces to jingles that are played on radio stations — audio advertising has come a long way, thanks to technology. The next set of the wave is here and brands are all set to leverage it as well. Here, we take a look at the predictions made by Amarjit Singh Batra, Managing Director – India, Spotify at an event for brands in Mumbai recently, where he was asked to share his thoughts on audio streaming trends for 2020.
Spotify entered the Indian market in February 2019. Currently, about 57% of its global users stream audio using the ad-supported network. Though undisclosed, the figure is much higher in India. These are non-premium users who consume ads to be able to stream music online. While this is a drawback when it comes to revenue, it also opens up the world of branded content and audio advertisements on the platform.
Streaming will become more mainstream
Currently, audio streaming is still at a nascent stage in India. There is a lot of scope of improvement and expansion, especially in 2020. With more players joining the industry and the rise in easily available diverse content, the consumer base is also bound to grow.
People will look for screen-less moments
With every app, and the branded content available over it, people are likely to undergo visual fatigue and choose from screen-less moments. This would mean an opportunity that the brands can leverage by looking at aural options.
Podcasts will bring people to audio streaming
Though at this point, quite a lot of people get on audio streaming applications to consume music content, a shift is likely to be observed where people would join in to consume podcasts. Exclusivity would, of course, be key.
More audio streaming than downloads
With the proliferation of internet connectivity, audio streaming in real life instead of downloading to consume later is a trend that is likely to become big. This will bring in more people into the fold of audiences brands can leverage.
Growth of good quality audio content
With a growth in the number of consumers and brands being willing to invest, the quality of content is bound to get better too. This will be a significant observation among the audio streaming trends for 2020 as subscription models evolve.