Audio media are converging. Major players in radio, streaming and podcasting already offer content in adjacent media, reflecting the fragmentation of audience preferences and a shift towards on-demand and personalised content. We see the current phase of experimentation with converged platforms as the first step on the way to fully aggregated audio content. Further down the track, we believe this convergence could shift to an all-media play, with publishers and producers competing to become consumers’ sole media content provider.

Radio is strong, but needs to innovate. Radio remains the dominant audio medium, but strong growth in adjacent audio media means that broadcasters need to explore new content formats and media to remain relevant.

Music streaming is hitting its stride. Australian music streaming revenues are already at 60% of radio revenues and growing strongly. The real test for the medium will be generating meaningful profit after the present phase of customer acquisition is over.

Podcasting is gaining momentum. After many years as a little-known niche medium, podcasting is attracting greater attention from listeners and marketers alike. We expect 2017 to see significant growth in technology, analytics and, ultimately, revenue.