Podcast Popularity On The Rise, What That Means For Marketers
Podcasts More Popular Than Ever
More marketers are pushing ad dollars into the podcast space. That is a key takeaway from new MediaRadar data which shows a 21% increase in podcast advertising between 2020 and 2021. Last year, podcast ad dollars hit $590 million with big brands like Teladoc Health/BetterHelp, Capital One, and Berkshire Hathaway leading the way.
The uptick in advertising dollars is the result of an uptick in consumers’ listening habits. Before the pandemic podcasts were quite nichey and appealed to a smaller base of listeners. However, since the pandemic lock downs, more people have looked to podcasts for entertainment and news gathering. According to MediaRadar’s research about one-third of American adults are now regularly listening to podcasts. That is a listener base of just over 100 million people.
Pandemic Drives Podcast Interest
“Podcast listening has exploded over the last two years,” said Todd Krizelman, CEO & Co-Founder, MediaRadar. “Because of the pandemic, more people have discovered podcasts, providing advertisers with loyal, niche audiences they can connect with. This is a valuable medium for marketers and publishers and we expect growth to continue.”
About 18% of podcast advertisers are from the tech industry while 15% are media based and about 13% are from the finance world. However, all of the major ad silos are represented. And, while the overall increase in podcast advertising was strong at 21% YoY, quarter to quarter increases were also quite impressive.
Learn how to use podcasts as an advertising tool.
46% Increase In Ad Dollars
Between Q2 of 2020 and Q2 of 2021 there was a 46% increase in podcast advertising, and in Q3 a 31% YoY increase. The most popular type of podcast ads are mid-roll, accounting for just over half of ads. About 18% of mid-roll ads were 30 seconds, 16% were 60 seconds, and 15% were more than 60 seconds in length.
Most Popular Podcast Producers
According to new data out from eMarketer, iHeartradio is the most popular podcast publisher. They hold a 30% share of unique audience; NPR follows with a 20.5% share, and Wondery ranks third with an 11.7% share.
How to develop a branded podcast.
Listener Interest Drives Podcast Ad Dollars
One of the bigger benefits to podcast advertising is that listeners “don’t mind” podcast ads (78%, per a Nielsen survey). What’s more nearly two-thirds (62%) say they’d consider buying a product after hearing an podcast ad.
Another benefit is the ability to hyper-target listeners. While advertisers may not know the exact location of podcast listeners, podcasts are highly niche and highly scaled. This can increase the relevance of campaigns because advertisers can use what is known about these listeners to develop an ad campaign.
