Podcasting is the up & coming marketing medium to watch.
Podcast advertising is seeing massive revenue growth. While podcasting is a relatively new marketing platform, new reports of podcasts user base and advertising revenue are very promising. With an estimated 67 million American listeners and an audience that it is continuing to grow, advertisers are now realizing the potential for success with podcasting.
Podcast ad revenues have grown 85% since last year.
According to the first ever IAB Podcast Advertising Revenue Study, ad revenue generated through podcasting has “skyrocketed” in the past few years. Between 2015 and 2016, ad revenue increased a whopping 73%, from $69 million in 2015 to $119 million in 2016.
This growth is steady and rising fast, as podcasts are expected to bring in an estimated $220 million this year. A staggering 85% increase since 2016. As David Silverman, a Partner at PwC U.S., explains “These findings confirm that podcasting is experiencing impressive year-over-year growth, and we can expect even more gains on the horizon.”
Podcast advertising is effective and enjoyable.
The talk-show format guarantees audiences who are engaged and paying attention. Additionally, the average listener is young, educated, and affluent. These are consumers advertisers and marketers hope to but often struggle to effectively reach. However, by advertising on a podcast, you will reach those qualified and valuable leads with messaging that is enjoyable and influential.
Listeners tune in every week to specific shows to hear from their favorite hosts and commentators. This loyal fan-base is a major advantage for advertisers. It positions advertisers as providers of consumers’ entertainment. It motivates fans to purchase advertised products in order to support their favorite pods.
Host-read advertisements are especially popular because, to listeners, they feel like personal recommendations from a friend. This is an incredibly powerful marketing tool. It provides the kind of interaction and engagement advertisers always hope for. Now, those advertising on podcasts are reaping the benefits.
Please contact us to get you started on your next podcast advertising campaign.