Chart of your day: Podcast Advertising Market Sees 117% Year-on-Year Growth
Podcasts certainly are a fantastic method for companies to regularly generate digestible content and stay at the forefront of these customers’ minds. The impact of podcasts is obviously being felt in america, where 16 million homes could possibly be classified as “avid podcast fans”, a year-on-year increase of 3 million from 2016.
This has resulted in massive upsurge in US podcasting ad revenue, which includes now increased to over $300 million. A written report from the Interactive Advertising Bureau and PricewaterhourseCooper presented the findings from 19 self-reporting companies that generate revenue from podcast advertising in america, which compatible a year-on-year growth of 117% rise in ad revenue.
The report also forecasted the near future growth of the marketplace, which projected a rise of 28% and reaching $659 million in 2020.
One of its biggest advantages is that podcast listeners are incredibly mobile, listening while they drive, cycle, and also while training. Smartphones remain the most famous device for consuming podcasts and imply that listeners could make podcasts to their daily routine just as much as checking their social media profiles.
However, possibly the most effective facet of podcasts may be the proven fact that hosts can inject their very own personality in the ad reads to create them far better. Among my favourite content producers is The Ringer, whose podcasting network is segmented into appropriate sports, news, and pop culture themes. All their ads are read by their show’s individual host, meaning exactly the same company could be advertised a variety of ways between each show.
Why, among consuming neigh-on 10 hours of content from The Ringer weekly, do I recall Blue Apron, a recipe ingredient delivery service? Because host Bill Simmons regularly tells stories about his family life, including when his son said he loved ordering food from “blue a-prune”.
The IAB and PwC report showed that host-reads will be the preferred type of advertising, representing two-thirds (66.9%) of ads in 2017. A Neilsen study that same year found in excess of three-quarters (78%) of podcast listeners don’t mind ads or sponsors since they support the show they’re hearing. Which means that while 26% folks consumers use some selection of ad-blocking software, which affects the ones that appear on website banners and video platforms such as for example YouTube, they’re more accepting of podcasting ads as they’re delivered directly from the hosts themselves and naturally blended in to the content they enjoy.