Are you reading this as you listen to a podcast? You’re not alone. Podcasts are big business, and it is no longer a fringe form of media. Two years ago, the public went nuts about Serial, a true crime podcast that chronicled a murder case in Baltimore. The podcast may have even had some influence on the defendant getting a new trial. From comedy podcasts like WTF and the Adam Carolla Show to health podcasts like the Rich Roll Podcast and slice of life podcasts like This American Life, there is a podcast for everyone.
According to the latest numbers from AdWeek: Nearly one in five Americans between the ages of 18 and 49 listen to podcasts at least once a month. One in three men between the ages of 18-34 claim to tune in to podcasts at least once a month. More people are listening to podcasts all of the time, which means advertisers are beginning to take notice.
The advertising industry expects to spend $700 million on advertising in podcasts this year and for good reason. It’s not just the number of people listening to podcasts; it’s also the percentage of listeners that respond to ads. Nearly two-thirds of respondents in a recent survey said that they either researched a product that they heard about in an ad or they purchased it outright. These numbers are very compelling for advertisers. In addition to that, technology has made podcast advertising a more viable option.
One of the biggest issues with podcast advertising was that the ad was usually recorded with the podcast. Therefore, someone listening to a podcast ad a few months later would not benefit from the ad as it would be obsolete. Dynamic ads have changed this and allowed advertisers to control their campaign. For advertisers like Jeff Kamikow, this could potentially increase their enthusiasm for podcast advertising. Look to see more advertisers spent on podcasts for the foreseeable future.