DITCH THE SCREENS, DIVE INTO AUDIO

Gripping content and convenience are making audio series the new entertainment powerhouse

In a world brimming with entertainment options, subscriber engagement with any one mode eventually reaches a peak. When the content on streaming platforms loses its sheen, we turn to social media giants like the ever-evolving X (erstwhile Twitter), Facebook, and Instagram. But even the endless scroll of social media feeds can become overwhelming, leading us to the bite-sized entertainment of YouTube Shorts.

However, a new trend has emerged in recent years: a solution for the inevitable screen fatigue. This has resulted in the increasing acceptance of audio series. According to a recent study by Redseer, a research and consultancy firm specializing in new-age businesses, the global audience for audio series is a staggering 1.3 billion addressable users. The value of the audio series segment itself is pegged at a whopping US $21 billion to US $25 billion, and Redseer’s study projects it to double in size within the next five years.

These figures beg two intriguing questions. First, what factors are driving the rise of audio series in a digital landscape already flooded with web series content? Second, what does the future hold for this burgeoning segment of the entertainment industry? Let’s explore this topic in detail to understand these questions.

THE INDUSTRY

The genesis of the audio streaming industry can be traced back to the launch of Apple iTunes in 2001, which revolutionized music consumption. This was followed by the widespread adoption of the paid music streaming app Spotify in 2008. Audiobooks then emerged as a mainstream trend, popularized by services like Amazon’s Audible. This paved the way for the era of non-music streaming platforms.