Today in the Business of Podcasting
IAB Releases First-of-Its-Kind Research Report on the Creator Economy Advertising Opportunity
The new report, titled The Creator Economy Opportunity: Where Authenticity Meets Impact, was conducted in partnership with research agency Talk Shoppe. The study tracked over 1,000 consumer purchase journeys from start to finish. Key findings include the discovery that 39% of consumers are watching more creator content than a year ago, compared to 22% watching more traditional studio-produced content. Advertising alongside creator content can jump-start the purchase funnel process, collapsing the awareness, interest, and consideration stages together. [Source]
What Worked in 2023: Brands in Podcasting by Annalise Nielsen
After the December and January flood of dour predictions for 2023, Pacific Content has taken a different tact for 2024 by dedicating their final blog post of the year to gathering industry leaders to reflect on the biggest lessons learned this year that branded podcasting can carry forward into the future. Barometer CEO Tamara Zubatiy highlights the collaboration and teamwork in podcastingās community. Acast CEO Ross Adams recalls a branded series on eco-anxiety that leveraged supplemental audio that, according to a post-campaign analysis, lead to 90% of listeners being more likely to take action to better the environment. Pacific Content rounds out the post with a reminder that brand storytelling in podcasts is at its most effective when it makes listeners feel something deeply. The more engaged audiences are, the more likely theyāll be to commit to the show and the brandās goals. [Source]
YouTube postpones co-viewing measurement plan by Tim Peterson
A previously-announced plan by Google to start transacting against its own co-viewing measurement (accounting for multiple people in a household watching videos together) was slated to begin in Q1 of 2024. Now Google has delayed it until Q4 amidst agency concerns that the methodology needs fine-tuning and to be more transparently explained to ad buyers. Measuring co-experiences is not easy in the digital age. The fact that a company as large as YouTube struggles to refine the process demonstrates that, but also shows thereās a path forward, one that podcasting can also pursue in measuring co-listening. [Source]
Ad Trends In 2024: Digital Deceleration, AI Rising, More Ad-Supported Streaming
eMarketer has published their Advertising Trends to Watch in 2024 report. Three highlights include a projection that digital ad spend growth, while still double-digits, will spike in 2024 before declining to 11% by 2027. The report cites a study finding 7/10 marketers surveyed expect AI to have a serious impact on advertising in the next two years. eMarketer believes the cord-cutting movementās momentum cannot be stopped and linear TV/cable bundles will continue to lose ground, but this will lead to more companies offering effectively the same bundle of content but for multiple streaming services. [Source]
ā¦as for the rest of the news: Tink Media has launched Podcast Group Therapy to offer podcast marketing strategies in tight-knit online sessions capped at 10 participants, new Association of Online Publishers report shows subscription revenues are beginning growth to a flat digital publishing market in the UK, and Magellan AI publishes their top movers and shakers in podcast advertising for November.
