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This may not be exactly what the leadership team at SiriusXM wants to hear now that the company owns Pandora. As Westwood One’s Brittany Faison points out from the latest Edison Research Share of Ear quarterly report, for the first time ever, Spotify has beaten Pandora in share of audio time spent. In the most recent quarter Spotify, with 4.9%, edged out Pandora at 4.7%) in share of audio time spent among adults 18+.
Faison points out that Pandora has been on a steady decline with consumers. “Since Q3 2016, Pandora’s share of audio time spent and reach have both taken a nosedive. Pandora’s time spent share fell from 6.3% in Q3 2016 to 4.7% in Q4 2018, a -25% decline. Pandora’s daily reach decreased from 14.6% in Q3 2016 to 11.7% in Q4 2018, a -20% decline.”
Faison also details the growth of podcasting from Edison’s “Share of Ear.” “The daily reach for podcasts has grown dramatically among major buying demos over the past two years. Millennials 18-34 daily reach grew +55% from Q4 2016 to Q4 2018 (11.1% to 17.2%). Adults 25-54 daily reach has more than doubled since Q4 2016, from 6.4% in Q4 2016 to 13.9% in Q4 2018 (+117% increase). Podcasting is a promising audio platform on the rise for both advertisers and media companies.” 