Interest in podcasts – both from listeners and from advertisers continues to grow.
Rain News and eMarketer reports “podcasts to capture 20% ad market share; reach $1B+ in 2021.”
In eMarketer’s latest projection of ad revenue to podcasting, the market research company forecasts two headline points:
Also from eMarketer, “strong listener growth has driven podcast advertising in recent years, as significant investments from major audio streaming services made podcast content more accessible. This year, 105.6 million people in the US will listen to podcasts, surpassing 100 million for the first time. That equates to half of US digital audio listeners.”
Statista reports, “back in 2006, only 22 percent of the adult population in the United States was aware of podcasting. By 2020, this figure had risen to 75 percent. Podcasting is an increasingly popular pastime in the U.S. and there were an estimated 88 million podcast listeners in the country in 2019. Forecasts suggest that the the number of podcast listeners will surpass 160 million in 2023 after increases of around 20 million each year.”
What does this mean for marketers? Very simply, it represents opportunity to reach new customers or clients in a highly targeted and direct manner. And it allows the to reach those podcasts listeners when they are highly engaged.
Podcasts are not background music. They require listeners to “listen actively” which means advertisements and podcast sponsorships will be given more weight by the listener. Listeners truly are a captured audience.
With hundreds of thousands of podcasts available, the opportunity for marketers to reach targeted listeners is high. Sell sports related products? Run ads on sports related podcasts.
Have a B2B offer? There are thousands of B2B oriented podcasts to choose from. Want the podcast hosts to endorse your product or services? You can do that too with host endorsement, just like traditional radio host endorsement opportunities.
This post wasn’t mean to outline “how” to run ads on podcasts, but to “show” why interest is increasing in podcasts, both for listeners and advertisers.
Want to learn more about podcasts and how they might work for your company?
We would be happy to walk you through how Exo Media Group works with companies looking to better optimize their marketing efforts – including adding podcast advertising to their media mix.
Businesses in Tampa, across Florida and around the country rely on Exo Media Group to help them get more customers, increase sales and solve their marketing problems. How can we help you?
