Not many people forecasted that digital audio would reach new and exciting heights in 2022. Yet, consumers spend a third of their media time listening to audio. Podcast listening is trending upwards, and advertisers are stepping up to the plate to get their brands noticed. A recent study discovered that podcast listeners spend 6 hours a week listening to their favorite podcasts.
Last year, the number of brands buying podcast ads rose 14 percent, according to MediaRadar. So far this year, the technology, media, and finance sectors have spent the most on podcast ads in 2022 and more than half of advertisers are looking to increase their podcast ad budgets, according to a 2021 poll of 255 US advertisers by Advertiser Perceptions.
Word-of-Mouth
A recent study proved that 59% of listeners trust Ads they have heard on podcasts more than any other media. Advertisers have discovered that podcast listeners engage in more word-of-mouth communication about their listening habits and trends. This is a dream come true for marketers everywhere. Advertisers and marketers know the important link between word-of-mouth advocacy and sales. For anyone trying to get their brand noticed, podcast advertising has become a simple and easy tool to employ in their media advertising arsenal.
Ad Growth
The projected investment on ad growth this year alone is $1.7 Billion. There are many reasons for this seismic growth within the industry, the main reason, is its vast audience reach. There is a podcast out there for just about anyone and any topic imaginable. Podcast listeners are influenced by the ads they hear on podcasts they choose to listen to. Podcasts are vastly popular and are synonymous for their loyal and engaged listeners. It has become a familiar medium, easily creating feelings of attachment between the listener and show and ad placement during podcasts help build brand loyalty and visibility within a safe and relatable environment.
Podcasting continues to gain ground in the world of digital media, listeners are connected both emotionally and intellectually to their favorite podcasts. Advertisers are strategically reaching consumers through their favorite podcasts putting their products and services on full display with maximum visibility. Listeners are all ears absorbing new content daily with a level of dedication and loyalty marketers dream for. As we continue to gain a better understanding of digital audio listeners, advertisers will use this data to enable more ad planning and buying, helping agencies and brands place ads to reach their desired audience.
Visit TritonRankers.com for up-to-date metrics on podcast listenership in the U.S., Canada, Australia, New Zealand, Netherlands and Latin America. Or, sign-up for our monthly reports to have updates delivered to your inbox.