Podcasting continues its meteoric rise, creating more opportunities for marketers
Challenges remain for the fledgling industry, but there is ripe opportunity for advertisers to engage with captive and motivated audiences.
Podcasting continues its rise in popularity, and advertisers are taking note. A Nielsen Fanlinks survey last quarter showed that the number of self-identified “avid” podcast fans rose from 13 million homes in 2016 to 16 million in 2017 — a 23 percent increase. An Interactive Advertising Bureau (IAB) survey earlier this year found that podcast revenues topped $314 million in 2017, an 86 percent increase from 2016.
With a growing number of households tuning in to podcasts on all types of subjects in every imaginable genre, there is ripe opportunity for marketers to engage a captive audience. But in the absence of third-party measurement verification and other challenges for the relatively young sector, some marketers have stayed away.
There are no audience buying standards like GRPs, but in terms of figuring out how to identify which types of podcasts a brand should target, there are third-party sources they can tap into.