It's been reported everywhere that the podcasting boom is over. But the facts tell a different story. While advertisers and audiences may have missed the memo, podcast ad revenues increased by 26% last year, and are expected to reach $4 billion by 2025. According to a new IAB report, last year 62% of Americans over 12 – an estimated 177 million people – listened to a podcast, with the average user tuning into nine episodes a week.
In addition to the large audience, podcasting is increasingly targetable and measurable. iHeartMedia, for example, offers a programmatic ad offering with 20 psychographic networks, enabling brands to buy across a set of shows that speak to specific consumer behaviours. The company also uses AI-powered technology to analyse transcriptions of every podcast for tone and context, giving brands 35 attributes about the content.
Brand safety is another common concern for marketers when it comes to podcasts. The IAB reports that the podcast industry has made great advancements in this area, with the ability to exclude individual podcast episodes.
The podcasting boom may be over for some, but for other audiences and advertisers, the story is just beginning.
Originally reported by Martech: https://martech.org/advertisers-and-audiences-refute-the-idea-that-podcasts-are-on-the-wane/
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