With the unbelievable growth of podcasting over the years, I feel as though the industry has been slow to adapt advertising technologies to it. There’s little or no reason why the same advertising strategies developed for video couldn’t be applied to podcasting – even just pre-roll ads, for example.
Dynamically inserted ads increased their proportion of ad spend by 51% from 2015 to 2016 according to an IAB Podcast Ad Revenue Study. I look forward to some ad insertion sophistication. With algorithms, surely we could develop algorithms to interlace ads in natural pauses in an audio file (let me know if you develop that solution… I want some credit).
I just published an incredible interview with the amazing Tom Webster of Edison Research where we discuss the past, present, and future of podcasting. In it, we discuss how the channel is growing in popularity with marketers. In fact, podcast advertising surpassed $200 million last year, double what it was just two years ago according to this infographic, The Podcast Explosion infographic, from Concordia University St. Paul Online.
Journalists have linked the podcast boom to the ubiquity of smartphones, time spent in transit, and online music services. Others attribute it to the brain-stimulating and addictive effect of audio learning, or the multitasking potential of listening. The beauty is in the overlap. Perhaps podcasting’s secret ingredient is that it multitasks better than any other medium, bringing a dose of productivity to any part of your daily routine.
- 52% of podcast listeners listen while driving
- 46% of podcast listeners listen while traveling
- 40% of podcast listeners listen while walking, running, or biking
- 37% of podcast listeners listen while commuting on public transportation
- 32% of podcast listeners listen while working out
Here’s the full infographic, The Podcast Explosion: A Look into the Who, What, and Why of Audio’s Most Compelling Format