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B2B’s Spending Big on Podcasts, IAB Australia Tracks 21% Podcast Growth, & More

B2B’s Spending Big on Podcasts, IAB Australia Tracks 21% Podcast Growth, & More

February 27, 2024

AM/FM Radio And Podcasts Deliver Decision Makers For Business-To-Business Advertisers by Pierre Bouvard

An important aspect of business-to-business marketing is not creating demand out of thin air, but getting a company’s name out in hopes of “being known before they are needed.” In a report focusing on the B2B side of audio, Bouvard points to some of the most successful AM/FM radio and podcast advertisers being B2B brands like Staples, Indeed, and ZipRecruiter. According to Magellan AI data tracking podcast ad spend, B2B brands have spent $182 million in the past 14 months. And podcasting proves to be a well-stocked pond for B2B. Edison Podcast Metrics for Q4 of last year found 53% of weekly podcast listeners participate in purchase decisions at work, and 17% of weekly podcast listeners are business owners. [Source]

Media Buying in 2024—How TV Investment Strategies are Evolving by Parker Herren

As advertising evolves in the digital age, so do the mechanics of yearly upfronts. This year’s TV upfronts are expected to focus primarily on audience data and programmatic buying, with the actual content of the TV shows involved taking somewhat of a back seat. There is also further discussion of the ongoing question: in a world where massive deals can be made with the click of a button, is there utility in the industry getting together every year for expensive, elaborate upfronts? Regardless of the future of the practice, currently programmatic and audience data are king. Which is good news for podcasting, an industry with a burgeoning programmatic sector and where first party audience data is plentiful. [Source]

Online advertising spend reaches $14.7 billion in CY23

IAB Australia has published the 2023 edition of their Online Advertising Expenditure Report, made in collaboration with PwC Australia. Total advertising spend for the country increased 3.7% year over year. Less than the projection of 9.1% from late 2022, but still a positive number in a rocky year for advertising overall. Digital audio outpaced every other digital ad format with a 21% increase. Narrowing down to just podcasting, investment increased 21.7%, bringing in $99.1 million AUD. [Source]

…as for the rest of the news: