Almost half of adults own a smart speaker, finds radio industry report

Almost half of adults own a smart speaker following a “relatively rapid” period of growth, according to a report published by radio industry body Radiocentre Ireland.

Some 45 per cent of people own a smart speaker, the Irish Audio Market Report 2023-2024 found, up from just 13 per cent in 2019, with the devices becoming an increasingly popular way to consume audio, including live radio.

Younger people are more likely to own a smart speaker, with 59 per cent of those aged 15 to 24 and 53 per cent of 25-44s possessing one. But the most significant growth since 2021 has been among 45-64s, with 46 per cent of this age group now owning a smart speaker.

The rise of the devices has underlined their importance for the radio industry, although smartphones are still a more commonly used means to access live radio, while traditional radio sets – typically in the home or car – remain way out in front.

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Live radio is the dominant form of audio listening, accounting for 74 per cent of the total, the report found. Music streaming has a 12 per cent share of listening, while YouTube Music and podcasts have a 7 per cent and 3 per cent share respectively.

The audio diet of 15-24s is noticeably different, however, with live radio accounting for 45 per cent of their total listening, music streaming taking a 29 per cent share and YouTube Music and podcasts on 13 per cent and 3 per cent respectively.

The report is based on face-to-face interviews with more than 3,000 people conducted in the second quarter of 2023 by research firm Ipsos as part of its Joint National Listenership Research (JNLR) survey.

In a separate update, Radiocentre Ireland said advertising revenues in the Irish radio industry rose 2 per cent to €113 million in the first nine months of 2023.

Spot advertising revenues, which arrived at €86.5 million, were flat year-on-year. Branded content revenue, which includes sponsorships, rose 7 per cent to €21.5 million, however, while digital audio revenue continued to swell, rising 35 per cent in the first nine months to €5.1 million.

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The digital audio figure relates to the digital revenue earned by radio operators in the Irish market and does not include revenue from global players such as Spotify or Acast.

The motors, pharmaceutical, travel/transport and business-to-business sectors were the most buoyant for advertising spend on the medium, with Government spending seeing the largest decline.

The audio sector outperformed the market in the January-September period, Radiocentre Ireland said, with the latest estimates suggesting that the total Irish advertising market contracted 1-2 per cent during this time.