Podcasts are often overlooked in media planning. While the underutilization can be attributed to a few items, one of the largest obstacles is that podcast advertising is not as familiar to advertisers as other media. The release of the IAB’s Podcast Playbook is looking to address exactly this issue. By better explaining the value proposition of podcast advertising, this resource allows planners to speak to this medium and identify opportunities that are a good fit. Seeing as 24% of the US population over the age of 12 are now listening to at least one podcast per week, now is definitely a good time to better understand that audience as to not miss out!
What this means for marketers: Who listens to podcasts? Where are they accessing the podcasts? How can I know if the ads will be effective? These and a lot more questions come to mind when first considering podcasts. The Podcast Playbook acts as one resource to address these concerns. The value of podcasts to advertisers can be summed up in a few points:
- Reach: 24% of the population is listening to at least one podcast a month, and this audience is subscribed to 6 podcasts a week (on average)
- Captivated Audience: Similar to video-on-demand, this medium requires users to “Opt-In” to consume the content. Generally, the audience itself will be less passive and more engaged.
- Listeners Lean In: 68% of podcast users have taken action as a result of a podcast ad. 23% of surveyed users have also made purchases based on podcast advertisements.
Mobile Opportunity: 85% of podcast listening happens on mobile devices. Whether at home or on the go, podcasts give advertisers the ability to consistently reach their target audience.