Podcasting is becoming a powerful medium in the ever-changing media landscape. Recent data shows that about 31% of Americans, or approximately 89 million people, listen to podcasts weekly, indicating a significant increase in podcast listenership. This trend has led companies to explore podcast advertising to reach both new and established audiences.
Sharon Taylor, the senior vice president of podcast strategy and product operations at Triton Digital, notes that podcast advertising revenues have been consistently growing by double digits each year, surpassing other traditional mediums in terms of growth rate.
This surge in podcast popularity can be attributed to the highly engaged and loyal audience of podcast listeners who actively seek and consume content on a regular basis. The strong connection that podcast listeners have with their favorite shows creates a level of trust that influences how they perceive ads that appear during episodes.
Kim Marshall, co-founder and host of the Global Wellness Summit podcast, emphasizes the importance of trust between hosts and listeners in podcast advertising. She mentions that listeners trust the hosts and are more receptive to ads that appear on podcasts they enjoy.
Podcasts build trust
The relationship between podcast hosts and listeners directly impacts the effectiveness of advertising on podcasts. According to Edison Research, 65% of “super listeners” who spend more than five hours a week listening to podcasts are likely to make purchases after hearing podcast ads. Additionally, 51% of these super listeners have a more positive opinion of companies mentioned in podcasts they regularly listen to. The report also highlights the high recall rate of podcast ads, with 86% of respondents recalling hearing podcast ads in the previous week.
How to advertise on podcasts
Advertising on podcasts can be beneficial for brands seeking to target specific audiences. Mitch Bluestein, CEO of MODRY, suggests that podcast advertising is effective for building brand awareness and loyalty within niche audiences. He advises brands to carefully select podcasts that align with their target audience to maximize the impact of their ads.
