Podcasting will be a $1 billion industry by 2021. Isn’t this a great news? Podcasts are mostly seeing traction among younger consumers in 2021. More than 60% of US adults ages 18 to 34 will listen to a podcast episode monthly and 65% of listeners use smartphones and tablets for podcasts. However, as listeners’ age increases, podcast listenership drops.
The podcasting landscape has grown exponentially in the last decade. One of the media industry’s best open secrets is podcast advertising. It can be a high-performance channel for Direct to customers (DTC) brands.
Podcast Advertising Statistics
Here’s the top 10 podcast advertising statistics for all podcasters like Mrigashira
- Podcast ad spending grows at 19 percent annually in the US. 6 percentage points faster than the average digital audio ad expenditure growth rate
- According to Midroll Recall Survey 2016 80% of listeners can recall a brand advertised in a podcast
- Podcasts generate around four times better brand recall than scroll, pop-up and static ads
- Parenting (11.9%) followed by beauty (11.2%) & CPG (9.7%) category brands seem to be acting it in terms of podcast ads led average conversion on the website
- WARC’s 2019 Global Ad Trends report says, podcast advertising is growing fast, podcast ad spend is currently worth $855m globally. It will rise to $1.6bn by 2022 which is 4.5% of global audio advertising spend
- A survey by Nielsen shows, 78% of the consumers don’t mind hearing podcast ads, and 62% would consider buying a product after hearing an ad
- 10% more listeners are likely to buy after exposure to podcast ads as compare to traditional advertising
- 51% of listeners are somewhat or much more likely to buy from brands that advertise their products via podcasts
- According to Hubspot report, In 2018, 17% of marketers were actively planning to add podcasting to their strategy
- The average podcast ad slot costs between $10 to $50, with additional premium fees for shows with high listenership
As we can see the popularity of podcasting increasing especially among younger people. We can say that podcast advertising is like influencers marketing. Podcast ads are like a reminder of life before Facebook and Google ads.