Podcasts: A Small but Significant Audience
Podcasts are continuously growing year over year despite traditional radio still accounting for about 91% of the adult population. Podcasts are a new territory for marketers to reach more consumers digitally and U.S. Podcast ad revenue is anticipated to grow 110% by 2020.
What this means for marketers: On average, 21% of people listen to 4-5 podcasts a week. This influx of listeners provides more opportunity for advertisers to reach consumers on multiple platforms, such as Spotify, Apple Podcast, Stitcher, and Soundcloud.
Research shows that about 34% of marketers are planning on utilizing podcast advertising in 2019 through pre-roll, mid-roll or spoken live during recording. When buying a pre-roll or mid-roll spot, the ad is recorded previously and added into the podcast audio during editing.
Consumers tend to listen to podcasts featuring topics that are of interest to them (sports, lifestyle, etc.), so when the podcast host recommends a brand/company organically, 54% of listeners are more likely to consider purchasing. Harmelin will continue to monitor the trend of podcasts so we can recommend new opportunities.