Seriously, How Long Can You Ignore Podcasting?
Now would be the time to start that podcast you've been thinking about.
The Interactive Advertising Bureau (IAB) released a report recently in partnership with PricewaterhouseCoopers that shows podcast ad revenue grew 85 percent since last year and is on track to reach more than $220 million in 2017. Previously, ad revenues for podcasts jumped 73 percent from 2015 to 2016.
Those revenue figures pale in comparison to search and social advertising but does indicate there is potential for well-executed campaigns and high-quality content from audio publishers. Dynamically inserted ads increased their proportion of ad spend by 51 percent from 2015 to 2016 while "integrated/edited-in/baked in ads" decreased from 63 percent to 44 percent. Essentially, podcasters are becoming more sophisticated at integrating ads into their audio products and advertisers, buoyed by more formality, are opening their wallets.
“These findings confirm that podcasting is experiencing impressive year-over-year growth, and we can expect even more gains on the horizon,” said David Silverman, a Partner at PwC US. “The study also identifies key trends that should be on marketers’ radar screens.”