You often hear people refer to our current cultural moment as "the golden age of television", but we think that we also happening to be living in the golden age of podcasting. Podcasting has changed the way we consume audio by helping to democratize the airwaves. Broadcast networks used to the sole gatekeepers to audio storytelling and news, but now, with a small investment in quality recording equipment, anyone can create a podcast. The breadth of content that has resulted is amazing -- there's something for everyone. Podcasting is an exciting space right now. But, with the exception of Mailchimp, aka Mailkimp (little insider podcast humor for you there), most brands are not very familiar with podcast advertising. With that in mind we put together a list of some of the things to know if you're considering launching a campaign:
Listener numbers are growing
Aided, in part, by the phenomenon that was 2014's smash hit, Serial, podcasts are experiencing something of a renaissance. Listener numbers are on the rise -- from 8% of the US population in 2014 to 13% of the population in 2016 (roughly 35 million people).
The audience skews young
Perhaps unsurprisingly, podcast audiences skew on the younger side. One reason might be that a lot of podcast content seems aimed at younger audiences. Many shows are unscripted conversations between hosts and the tone is usually more casual or off-the-cuff than it is in more traditional forms of media. It may also be that younger audiences are more comfortable or familiar with accessing media on their devices than older ones.
The audience tunes in often
The podcast audience tends to tune in relatively frequently. Of listeners who listened in the past 6 months, 55% listened at least once a week. An additional 30% per cent reported listening 1-3 times per month.Ad engagement is good
Audience engagement with ads appears to be good. High numbers of listeners report engaging with a brand in one way or another after hearing an ad.
Cost are based on impressions
Costs are based on impressions and impressions, in this case, are measured based on how many times a podcast is downloaded. Strictly speaking, there's no guarantee the download will get played or that the user will stay tuned in long enough to hear all the ads within the episode. According to eMarketer, average podcast advertising CPMs are currently around $21-22 and are expected to rise over the next few years: