Think you know how digital audio stacks up against traditional media? Take a look and we hope you like what you see.
From streaming music, to podcasts to live content, digital audio is the entertainment go-to for 75% of the US population1, 85% of Adults 25-541 and 53% of Adults 55+1. Americans are spending 4 hours and 50 minutes with digital audio each day2, which is 55% MORE than listeners are spending listening to traditional AM/FM radio2. It's a huge opportunity for pharma brands to connect with consumers. The power of SXM Media’s digital audio for pharma brands includes our scaleable, addressable audiences (people who listen to ad-supported music, podcasts, and content), 87% of our listeners choose our ad-supported platform.
Check out the key differentiators for SXM Media, one medium at a time.
Always a valuable reach vehicle, television viewership fell below a 50% share for the first time3. Over the past decade, the number of listeners tuning into digital audio has increased +92%4. In today’s fragmented media world, attention is a valuable currency - one way to assess that is in the time consumers are spending with various media. Linear TV time spent is declining (-43% in the last decade)5 while time spent listening to digital audio is on the rise (+183%)6. Consumer attention? We’ve got it.
SXM Media (Pandora, SoundCloud, SiriusXM Podcasts, SiriusXM) can help your brand tap into TV’s biggest tentpole moments through digital audio. After the Hip Hop all stars took over the Super Bowl halftime show, there was a triple digit spike in Pandora’s Dr. Dre station adds (+213%), Snoop Dogg (+118%), Mary J. Blige (+110%) and Eminem (+228%)7. One pharma brand successfully leveraged their multi-cultural campaign on Pandora for the Latin Grammy Awards and drove metrics significantly over benchmarks.8
With proven ability to deliver higher memorability for branded pharma ads than TV, we can help your dollars do more. Check it out:
Bringing on-demand, bingeable entertainment to more Americans, video streaming has become a crowded landscape, causing many consumers to unsubscribe. In fact, 48% of our Adult 18+ listeners state that they have a hard time keeping up with streaming video services9. The average American household subscribes to 5.5 video streamers9, and research shows that the average annualized subscriber churn rate for video streaming services is 47%10. Top reason for unsubscribing? Cost11, a concern that in our current economy, will continue.
Our audio environment generates real impact for your message. A recent neuroscience study showed an audio ad on our platform generated 29% more impact on long-term memory than mobile video ads 12.
Since the pandemic, brand authenticity for pharma is even more important. In fact, 71%13 of respondents stated that it’s become more important for pharma brands to be authentic. There’s a lot to unpack there, but we can certainly help the journey - our audience tells us they believe audio streaming and podcasts are significantly more authentic and trustworthy than video streaming14, 15. That’s not a bad place to start.
Endemic partners aren’t the only option when it comes to driving results. The case study below illustrates that we generate strong metrics:
Social media usage, flat since 2017, shows just +2.5% growth16, and yes, we all have our social go-to favorites, many consumers are tiring of edited lives, fabricated perfection, and hyped outrage. Brand safety challenges are more elevated than normal as we enter a polarizing election year. Even if social media continues to be an integral part of your 2024 strategy, our audience’s shifting social habits and desire for positivity can give your brand incremental audience reach (see the stats below).
Music and podcast show-level content are both safe havens for brands, and SXM Media’s capabilities for additional targeting (contextual, mood, genre, anti-targeting to name just a few) ensure an even wider safety net.
We hope we’ve shown that our digital audio packs a punch, and can drive a variety of KPIs from awareness to consideration to conversion. It can work hand in hand with, and also boost the results of your tried and true traditional media channels.
SXM Media’s VP/Head of Industry-Pharma can connect you with one of our pharma experts to learn more. Just e-mail: [email protected]
SOURCES:
1. Edison Research, The Infinite Dial 2023, P12+, Adults 25-54, Adults 55+
2. Edison Research, Share of Ear Study, Q3 2023
3. Nielsen’s July, 2023 Report The Gauge
4. Edison Research, The Infinite Dial 2023, Smartphone P12+ % Owning a Smartphone, Digital Audio Listening, % of P12+ Listened to Audio Past Month from 39% in 2012 to 75% in 2023
5. eMarketer P18+ Who Use Desktop/Laptop to go Online While Watching Digital Video or Traditional TV Content on a TV Set at Least Once Per Month, Dec 2019; Individual Device Used While Watching TV (Smartphone, Laptop/Desktop, Tablet).
6. Edison Research Share of Ear, Q2 2023, % More Time with Audio Compared to on Digital Audio Listeners
7. Pandora Internal Metrics
8. Pandora Internal Metrics; unable to share specific metrics due to client confidentiality
9. Pandora User Research Study, Entertainment, 2023
10. Kantar, Entertainment On-Demand Study U.S., March, 2023
11. Parks Associates Study, October, 2023
12. Pandora Neuro-Insights Study and Conversion Experiment
13. Hawk Partners Study, The Importance of Brand Authenticity in Pharma
14. Pandora User Research Study, 2023
15. Podwave, SXM Media Podcast User Study, 2023
16. Edison Research, The Infinite Dial 2023