The Rise of Podcast and What Does it Mean for Advertisers?
Visual contents sharing platform such as Facebook, Youtube and Instagram had dominated the internet for years. According to Sprout Social, Facebook, Youtube and Instagram have 2.2 billion, 1,5 billion and 880 million active users respectively.
With that huge amount of user base, no wonder most marketers used these social media platforms in their digital marketing strategy. According to Goldmedia data, sponsored content on the Instagram and Youtube accounted for 34% and 31% of total influencer revenues in 2017, respectively. While Facebook, which accounted for 13%, still outranking Blogs and Twitter, which are more focused in text rathen than visual.
However, the domination of visual contents sharing platform are currently challenged by the rise of audio contents: podcast. According to DHA Digital, podcasts users had risen 40% in 2018 and the rise is expected to continue in 2019. Podcasts penetration is strongest among 18-34 demographic.
The average podcast’s length is 45 minutes and the average podcast’s ads length is 90 seconds. Podcast users have a remarkable attentiveness measure. According to Edison Research, 85% of people who listens to podcasts, listen to the end.
Why the rise?
Unlike classic FM radio, podcast’s on demand, customizable and personally curated contents accommodated what most audiences need. You listen to what you want, whenever you want. Moreover, audio contents are more suitable for this generation, who spent most of their time commuting. Most listens to podcasts while driving or in public transportation, when it is impossible for them to enjoy the usual visual contents in Youtube and Instagram.
Currently there are various podcasts sharing platform such as iTunes, Acasts, SoundCloud and Spotify that makes listening to podcasts a lot easier. As user base grows, there will be more contents that will be supplied in podcasts. Podcasts content creation is a lot easier too. You will just need a microphone and audio editing tools that are a lot easier to operate in comparison to complex video editing tools.
Why advertise in Podcast?
According to a Forbes article, major brands such as MasterCard, Slack, Trader Joe, Blue Apron and Casper has launched their podcast advertising. Podcast advertising is promising due to podcast’s features. Most podcasts ads are read by the podcaster whom listeners have chosen to hear for the full duration of the podcast, and like and trust, they are also much longer than other ads, with more content and information. It is harder to skip and are less predictable than other ad forms, due to the presenter's customized "spin”.
As podcast users continue to rise, delivering a well-created ads content on podcasts can be a real win.