Podcasts exceed conventional media, digital screen on brand awareness, research study says
Claritas used a methodology called “incremental lift analysis” that lets online marketers measure the efficiency of media channels such as podcasts. The company carried out the research study on behalf of Entercom, a creator and supplier of podcast material.
Claritas’ research study suggests that podcasts are extremely effective at raising brand awareness compared with other media channels, making them an engaging platform for mobile online marketers.
Podcasts are a portable, on-demand format that capture audience attention in a variety of settings, and the growing menu of programming interest a varied group of audience sections. The variety of podcasts rose 80% to 1.44 million in the past year, per Apple Podcast data assembled by My Podcast Reviews, and the number of podcasts on other platforms contributes to that overall.
Brands are taking notice, with ad costs on the channel projection to rise 15% to about $1 billion this year, according to the Interactive Advertising Bureau and consulting firm PwC. The part of advertisers that included podcasts to their yearly media prepares almost doubled to 47% in the previous year as more marketers sought to reach the channel’s growing audience. Business interest in podcasting was exhibited in Omnicom Media Group’s July announcement of a groundbreaking handle Spotify to invest $20 million by the end of the year on podcast advertisement positionings.
Growth in advertisement spending is, in turn, sustaining financial investments in podcast programs among a variety of audio platforms that look for to separate their services in a congested market. Spotify in the past two years has actually been more aggressive than other business in developing out its library of podcast content through direct financial investments and licensing offers.
Most just recently, the company started a multiyear sponsorship handle Riot Games that makes Spotify the exclusive streaming partner for “League of Legends” events. Spotify in June partnered with Warner Bros. and DC in a multiyear deal to bring scripted podcast series based on the comics imprint’s superheroes. Those arrangements followed an unique deal to stream popular podcast “The Joe Rogan Experience” and the acquisition of Expense Simmons’ The Ringer network previously this year.