AccuStream Research: Internet Music Radio and Track Play Hours Climb 50.5% in '11; Revenues Jump 64.3%
SEASIDE, Calif., Feb. 29, 2012 /PRNewswire/ -- Internet music radio and track play listening hours rose 50.5% in 2011 to over 1.3 billion monthly, while monetization initiatives (advertising and subscription) advanced 64.3%, according to a sector analytics report issued by AccuStream Research.
The report, Internet Music Radio and Track Play Growth 2012 - 2014: Listening and Monetization Analysis, details how the market's forward momentum accelerated in 2010, delivered strong results in 2011 which continue unabated in 2012.
For the first time, sector revenue growth outpaced that of radio and track play listening hours. The sector achieved $293.7 million in gross media spend (all format executions, including audio, video and display), with another $171.7 million in subscription revenue. The total market is forecast to rise 78% in 2012.
Audio inventory expansion to 6.2 billion avails per month in 2012 is projected, driven in part by Pandora's increasing focus on the in-stream audio format. Prior to 2011, Pandora allocated less than one minute of audio advertising inventory per listening hour.
Combined with an in-house sales force selling into top local DMAs where terrestrial broadcast radio advertising has historically been bought, the audio format is moving to the forefront of the programmer's monetization initiatives.
Audio fill rates are forecast to improve to 60% in 2012 across the entire market sector, with an average equivalent CPM (eCPM) of $6.80, according to the report. Pricing, inventory by format, fill rates and market share trends by media execution are included in this report.
The importance of mobile listening corresponds with escalating cross device audio placements, expected to capture increasing format share.
The mobile component to music and track play hours rose by 222% in 2011, accounting for 41% of the total, a strikingly positive audience reach and listening catalyst.
In 2012, for example, non-PC listening on Pandora's service is now 70% of the total, and 50% of Slacker is mobile.
In-depth Q & A's with the sector's leading programmers and rep firms are an important contextual component to this analytics report.
AccuStream Research (http://www.accustreamresearch.com) produces business planning and targeted investment reports spanning digital video, audio, media subscription stores, video advertising, video advertising networks and exchanges, mobile advertising networks, video ad serving platforms, CDN and integrated media optimization solutions.
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