The podcast surge
Have you noticed how popular podcasts have become? Between celebrities, journalists, industry experts or even some of your own friends and family, it seems everyone has launched their own podcast. According to Podcast Insights, in 2018 there were 18.5 million podcast episodes and now there are over 30 million! Podcast genres range from news, murder mysteries and comedies, to even specialty topics such as video games. So, just how big is the podcast trend? Check out these facts from Edison Research below:
- 51% of the U.S. population has listened to a podcast
- 50% of all homes are podcast fans (that’s over 60 million homes)
- 49% of podcast listening is done at home
- 22% of listening is done while driving
The statistics above show that many people take significant time to digest a wide assortment of content via podcasting. If you have listened to podcasts, you know that most will have an advertisement or two in the episode. That’s how podcasts are funded and how your business can reach a captive audience. Placing an ad in a podcast gives you a new avenue to promote your business, products or services. Depending on your audience and marketing goals, an ad on a podcast might be the way to go. These ads happen either at the beginning, middle or end of the episode. Here are a few facts from Music Oomph about podcast advertising and how it can benefit your business.
- Your audience already listens to podcasts.
- There’s over 73 million active podcast listeners which contribute to $514 million in podcast ad revenue. So chances are your target audience is already tuning in.
- 80% of listeners stick around for an entire episode.
- This means that they will most likely hear your ad.
- 69% of listeners agree that podcast ads make them aware of new products or services.
- 45% of podcast users are likely to have $250,000+ annual income.
- This suggests that they have disposable income to afford the product or service advertised.
All these facts clearly show how valuable this ever-growing ad space could be to your business. Now I ask you, will I hear an ad for your business on the next podcast I listen to?