Today in the Business of Podcasting
The Latino Podcast Listener Report 2023
The new report uses data from 2,637 online interviews with U.S. Hispanic/Latino adults 18 and up, conducted in August of 2023. Among other key findings: Monthly podcast listenership with the US Latino population has increased 52% since 2020, almost four times faster than the general US population. 49% of respondents have purchased a product or service as a result of hearing it advertised on a podcast. 50% say their opinion of a company is more positive when they hear it mentioned on a podcast they regularly listen to. 53% of Latino respondents who consume Spanish-language podcasts say they find the ads on those shows more relatable. [Source]
Advertisers will spend $84 billion on ad fraud this year: report by Ryan Barwick
A new report from Juniper Research, built on digital advertising data from 78,000 unique sources in 45 countries. The report predicts this year ad fraud will cost marketers 22% of the projected $382 billion in overall online ad spend. In this context, Juniper defines the act of ad fraud as intentionally repeatedly clicking on pay-per-click online ads to artificially boost traffic numbers. The report also projects the number will creep to 23% by 2028. Problems like this exist in all mediums, but podcasting has an opportunity to collectively prioritize high-quality, vetted advertising inventory. [Source]
Hot Pod: Breaking down Canada’s new podcast platform registration form
The regulatory body that oversees radio, TV, and online streaming in Canada, the plainly-named Canadian Radio-Television and Telecommunications Commission, announced a new rule last week that impacts podcasting. Any online streaming service that operates in Canada, offers ‘broadcasting content’ and earns $10 million in annual revenue will need to complete a registration form with the CRTC by November. The CRTC maintains this registration process is purely for platforms and individual podcasts will not need to register. The move is interpreted as part of a larger regulatory move in Canada to influence content-distribution platforms to present more Canadian-made content in accordance with existing quotas for home-grown content in broadcast TV and radio. [Source]
Measurement issues still plague the business, but agencies hope their solutions help marketers by Antoinette Siu and Marty Swant
Last week during the Digiday Media Buyers Summit, speakers from various companies spoke on the challenges of measurement for media buying. From connected TV to influencer marketing, speedbumps complicate the process of measuring various aspects of campaigns in a post-third-party data world. The article serves as a reminder that measurement issues are not unique to podcasting, but an overall issue for the ad industry. [Source]
As for the rest of the news… YouTube has launched podcast functionality for YouTube Music in the UK, Rooster Teeth is pivoting video focus from YouTube as their self-hosted videos show 5-10x the ad revenue, Spreaker is building a site to provide up-time monitoring of podcast hosts and tracking prefixes in real time, Audible is named Company of the Year at the Signal Awards,
What it says: Hispanic podcast listeners are 13% more likely than non-Hispanic listeners to consume podcasts ‘every day.’
What it means: Hispanic podcast listeners identify listening to an average of 3.2 podcast titles in the past month – an average of 15% more podcasts than non-Hispanic listeners.
Why it’s cool: Spanish-dominant Hispanic podcast listeners sample even more podcast titles, naming an average of 3.6 different podcasts in the past month.