The Interactive Advertising Bureau (IAB) released a report earlier this month showing the rapid growth of podcast advertising (86% growth year-over-year). This translated to over $300M in revenue last year.
It is interesting to see how podcasts have been able to capture so much growth in a few years. As marketers it makes sense to consider podcasts as a way to reach our targets. They have different types of ads available, direct response (most common), brand awareness, branded content and product placement (page 17 of the report provides an explanation of each).
Podcasts offer a captive and engaged audience and if the hosts are able to read the advertisements they can make them even more compelling; this is actually the preferred method. With the large pool of different podcasts advertisers are able to target specific topics, demographics and interest that reflect our brands or products.
For more information on this topic and a link to the study:
https://www.iab.com/news/us-podcast-ad-revenues-2017/
https://www.iab.com/wp-content/uploads/2018/06/2018_IAB_Podcast_Ad_Rev_Study_vFinal.pdf
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