Tag: contributors

The rise in podcast popularity over the last decade has effectively changed the landscape of the entire market. And the booming interest in new, engaging content has proven to be an attractive option among media consumption—particularly for diverse audiences.

Nielsen’s Seen on Screen 2021 report examines the importance of quantity and quality of on-screen representation for diverse identity groups. Specifically, how and how often different identity groups show up in content—and where within the storyline or subject—matters. Yet, much of today’s media still centers on one perspective or experience, with representation often addressed as a complement to a main story or primary character. As people look for content to accurately articulate and illustrate their lived experience, there are a burgeoning number of options, especially when you consider audio platforms. Importantly, for diverse audiences, podcast content is resonating and an important medium. 

Nielsen Podcast Buying Power data shows:

• Average number of times per month each identity group listens to a podcast: ranges from 9 to 12 times per month between Asian American, Black, Hispanic, people with disabilities and LGBTQ+ podcast consumers 
• Average weekly hours spent listening to podcasts: approximately 3 hours for each group
• What percentage of each identity group listens most often at home: people with disabilities are the highest (67% listen most often at home) with Asian Americans the lowest (43% listen most often at home)

Below are the podcast genres most listened to by audience:

Podcast popularity is growing

Blacks

Just as essential as the Black hitmakers, is the community commentary that elevates them—a trend that points to why podcasts are growing in Black listenership and audience investment. Black listeners are streaming audio more than other audiences, while listening more closely when brands reach out—averaging a 73% brand recall for podcast ads. 

Hispanics

Hispanics are a diverse intersectional group with different experiences, perspectives and expectations. They want fresh, meaningful, culturally relevant content served up through trusted platforms. And podcasts are now a go-to platform for Hispanics to find that diverse content reflective of their experiences—and the podcasters that best engage them. As such, podcast listening among Hispanics 25-39 has doubled in the last three years.  

Asian Americans 

From the unique Asian American experience to relevant comedy, the availability of content that culturally speaks to Asian Americans is a key reason the number of podcast listeners has grown 5x over the last decade. Like in TV, news is among the top genres, and this is likely to continue as there is still uncertainty about the pandemic, along with Asian audiences staying tuned to the latest on the social justice movement. 

The transformation toward increased engagement of podcasts over the last decade has created the opportunity for all audiences to find more content that resonates. And while the positive momentum of podcasting is enticing more celebrity involvement and even fueling original TV content, podcasts are attracting big ad dollars. The Interactive Advertising Bureau (IAB) is predicting that ad revenue will hit $2 billion by 2023, well above the $842 million generated last year. 

Notably, podcast advertising—particularly when read by the host—drives stronger brand recall punch than more traditional forms of advertisements. For example, Nielsen’s Podcast Ad Effectiveness (PAE) solutions have found that host-read ads drive a brand recall rate of 71%, which subsequently creates high levels of consumer interest, purchase intent and recommendation intent. 

Specially for diverse audiences, content that connects isn’t just on-screen; these audiences want to hear from trusted voices with similar backgrounds or that have similar interests. Most importantly, the topics need to be inclusive and of interest—from credible sources with original voices. And as podcasts more authentically appeal to a wide range of audiences, brands and agencies can track engagement with them and leverage targeted opportunities within their marketing strategies and campaigns.

Related content:

• Podcasting today report
• Being Seen on Screen microsite

Despite the recent proliferation of cryptocurrency in Americans’ lives—hello, Elon Musk on Saturday Night Live—cryptocurrencies have some ground to gain before they become ubiquitous with consumers and their finances. But they have quickly become omnipresent across the global sports industry. The significant rise in crypto sponsorship deals provides massive visibility to the budding industry–yet these crypto brands will eventually need to extend their efforts beyond naming rights, logo patches and arena signage to succeed with consumers.

In just two years, crypto involvement in the sports industry has grown from niche investments to a huge growth driver. According to Nielsen Sports Sponsorglobe, 84 new crypto/blockchain/NFT sports deals had been signed globally through the first three quarters of 2021. That’s up 664% from the 11 signed back in 2019 in the same time period. Comparatively, auto deals grew 52% and insurance deals grew 6%. Among the deals signed this year, none was more noteworthy than the recently announced 20-year $700 million naming rights deal that will transform the Staples Center in Los Angeles to Crypto.com Arena on Christmas Day.

The renaming is just the latest crypto deal in the NBA. In addition to being the new arena name for the Lakers and Clippers, Crypto.com recently inked a six-year deal as the official jersey patch partner for the Philadelphia 76ers. Separately, Coinbase is the official crypto partner of the NBA, FTX recently purchased the naming rights to the Miami Heat’s arena and made Golden State Warriors star Steph Curry its brand ambassador, and StormX is the official jersey patch partner for the Portland Trail Blazers.

Crypto advertising and sponsorships in sports makes sense for an array of reasons, with  visibility typically being the top driver, especially among new brands and categories. In the U.S. alone, sports programming accounted for 98% of the most-viewed programs across broadcast and 72% of the most viewed programs on cable television between January and September, with Super Bowl LV accounting for 20.3 billion minutes viewed. The on-site signage, displays and activations at sporting events only add additional layers of awareness and promotion.

The upside of these massive efforts is that consumers are very receptive to brand sponsorships in sporting events. In fact, Nielsen’s 2021 Trust in Advertising survey found that 81% of global consumers either completely trust or somewhat trust brand sponsorships at sports events, just behind recommendations from friends and family and branded websites. The high visibility and consumer sentiment about sports sponsorships validates the dramatic increase in crypto investments; ultimately, brands will need to transition their efforts from awareness to consideration.  

Through that lens, Nielsen Fan Insights data highlights why the NBA is such a strong partner for crypto. Notably, just under half of NBA fans (49%) express a general interest in crypto products, which is 80% more likely than the overall U.S. population. What’s more, 46% of NBA fans intend to use a crypto product in the next six months which is 61% more likely than the general population.

From a fan engagement perspective, non-fungible tokens (NFTs) have quickly gained momentum as leagues and teams use them for new and engaging ways to provide extended value to fans. NBA Top Shot, for example, is an NFT marketplace featuring officially licensed digital collectibles. After opening to the public in October 2020, NBA Top Shot has become one of the most high-profile NFT successes to date. 

Much like their receptiveness to crypto, NBA fans are more than just aware of NFTs. According to Nielsen Fan Insights data, 43% of NBA fans intend to buy NFTs in the next six months, which is 75% more likely than the general population. For NBA fans, NFTs:

• Are a good way to engage with teams (26%)
• Offer growth potential (23%)
• Were recommended by a financial authority (21%)

Despite the growing presence of crypto and blockchain tech in the sports industry, familiarity and usage intent among consumers will take time to build. Sports sponsorships rank high in terms of trust, but just under half of NBA fans (48%) are still unfamiliar with NFTs and 43% are unfamiliar with cryptocurrency, let alone see a need for them. The prominence of certain brand sponsorships, however, such as Crypto.com, Coinbase and FTX, appears to be paying off in both awareness and usage.

Unlike traditional sponsors, like those from the auto, insurance and travel industries, cryptocurrencies, blockchain technologies and NFTs have more to win over from a fan perspective than just awareness. Awareness through exposure is a critical first step, and the sports industry is ripe with visibility options. After creating awareness of cryptocurrency through these—and other—sponsorships, there will come a time to bridge the gap between awareness and intent, transitioning from brand building to conversion, as detailed in Nielsen’s Brand Resonance white paper. They will, just as any brand would need to, solidify their unique value propositions and evolve their relationships with fans from one-way to two-way conversations backed by education and trust-building.