Audioboom claims podcast revolution is in full swing as people are turning their backs on radio stations

Oliver Gill
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Audioboom is backed by property magnate Nick Candy (right) who is married to former Neighbours soap star Holly Valance (Source: Getty)

Demand for podcasts is booming, with one leading platform claiming people are spending two hours every day listening to them.

Audioboom commissioned Edison Research to quiz over 8,000 people from the UK and US in March.

And it suggested those aged between 25 and 44 listen to an average of two hours a day and tune into 60 podcasts every month.

Read more: Developing a new Edge? Audioboom gets popstar fund backing

Audioboom chief executive Rob Proctor explained the demand showed "how listeners are increasingly turning away from radio and towards podcasting".

The research comes as Audioboom today revealed revenue had spiked in the first six months of its financial year. Sales were 447 per cent higher than the previous year.

Green shoots at Audioboom emerged earlier this year after the firm, backed by property magnate Nick Candy, endured a challenging 2016. Candy propped the Aim-quoted firm up with a cash injection after a deal to bring fresh capital from Chinese investors fell away.

Proctor said:

Operational momentum generated in 2016 is now beginning to translate into rapidly improving financial results.

Read more: Audioboom revenue rises to beat expectations

The Edison research also highlighted nearly two-thirds (63 per cent) of people "pay more attention to advertising on podcasts than advertising on broadcast radio". Six out of every 10 people said they had bought a product mentioned on a podcast.

Proctor said: "Unlike traditional radio, our listeners see the benefit in downloading their own content and having the option to listen to it when and where they want to."

Read more: Podcast: Can businesses do good, and still turn a profit?

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