Will you grow, or get left behind, in the growth of podcast advertising?
A critical look at the forecasted growth in the podcast advertising market, and the opportunity for brands.
There's a bit of excitement around the latest forecasted growth of podcast advertising hitting USD 43Billion by 2032 - who doesn't like big numbers and powerful headlines - but what I find interesting about the investment in the industry is a little different...
I have some questions and some opportunities to pose to you - the brand looking to invest in podcasting, the smart content marketer, and the independent podcaster or network.
Where will the media money get spent?
The majority of spend looks to land with host read ads - this is unsurprising given podcast hosts are powerful influencers and ambassadors achieving unrivalled engagement with their listeners - just look at how the creator/influencer economy grew in socials, in many instances podcasting is just another (more engaged) digital audience owned by a creator.
So what could this mean for how brands treat media investments and budgets….
Could there be an across the board convergence of social media and podcast "influencer" budgets?
Or will podcasting fall into the digital media buy bucket only?
Who could get left behind?
As the investment grows, hardworking agency people will continue to look for ways to make media buying and reporting easier.
As an industry we're bound to see the continuation of streamlined media buys through audio networks and tech that makes it simple (and more economical, read: cheaper) to advertise in podcasts.
This is great for those managing budgets, but does it leave the independent podcaster behind....?
And what about smaller/independent networks helping their shows monetize, how do they get cut through with advertisers?
Can they?
The “emerging trend”?
The headline graph everyone is getting excited about is focused on ads….
…. but branded/owned podcast content for brands is still being cited as an "emerging trend".
That's the headline I'm excited about.
Buying into pods is one thing, a great thing, but as marketers our knowledge of the power of first party data should be telling us that owning the media environment you're advertising yourself in is a level-up.
What's the owned podcast content plan for your business?
And what about creating and owning multiple shows - your own in-house network for example that creates engages owned audiences across each of your brands content sweet-spots that you can advertise yourself within....?
Now that is next level.
When looking at growth in the podcast industry, and your potential within it, make sure you're scratching below the surface.
Source article: https://lnkd.in/gMqud_ZC