Podcast promoting is exploding, and the third annual report on the topic from the Interactive Advertising Bureau (IAB) and PricewaterhouseCoopers exhibits how large that explosion continues to be.
Podcast promoting reached $479 million within the U.S. last year, in accordance to the Podcast Advertising Revenue Study – a 53 % improve over 2017’s $314 million. The 2017 determine itself was 86% greater than in 2016. By 2021, the report estimates, podcasting ads will greater than double, hitting a billion .
“Brand safe environment”
Similarly, the examine discovered that 2018 self-reported revenues from main podcast firms jumped 34 % over 2017, to $345 million. The knowledge for the examine was compiled from self-reported data submitted by almost two dozen firms that generate income from podcast ads within the U.S.
The key driver to the continued boom in podcast ads is the recognition of this type of content material, with podcast listening rising by seven % last year. More than half of the inhabitants over 12 years previous has listened to podcasts, and the ads rating extremely for engagement and responsiveness.
That progress in listening can be fueled by new alternatives that transcend people sporting earplugs hooked up to a cell digital audio playback gadget like a smartphone. Cars and good audio system, as an example, are additionally turning into a part of the playback gear for podcasts.
“Podcast storytelling is deeply engaging and provides marketers with a brand safe environment that enhances the appeal to advertisers,”
IAB Executive Vice President for Industry Initiatives Anna Bager stated in a press release.
“Baked-in ads” nonetheless the bulk
On the advert aspect, programmatic shopping for and dynamically inserted ads are more and more turning into a part of the podcast advert atmosphere. Although “baked-in ads” recorded as a part of the podcast nonetheless symbolize nearly all of podcast ads delivered within the U.S. last year, the report famous that dynamically inserted ads rose from 41.7% to 48.eight%.
Brand consciousness and branded content material ads are growing as a proportion of complete ads, and direct response ads are shrinking, however direct response ads nonetheless make up 51.6% of the full. Host-read ads are nonetheless the dominant type, representing two-thirds of all podcast ads.
The report was sponsored by 17 podcast makers, advert suppliers and distributors, together with iHeartMedia, WarnerMedia, Adswizz and Wondery.