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Influencer Spend Outpaces Social, Media Mix Problems, Business Owners Overindex as Listeners, & More

Influencer Spend Outpaces Social, Media Mix Problems, Business Owners Overindex as Listeners, & More

September 11, 2023

Today in the Business of Podcasting

Over half of business owners are daily podcast listeners, study shows by Reem Makari

New research from podcast production company Lower Street, partnered with ContentFX, looks at the impact of business to business (B2B) podcasting. The study was built from the listening habits of 511 senior-level individuals in the business sector of the US and UK. 51% of respondents listen to podcasts daily. 36% of respondents use podcasts to learn new things and 43% use them as their primary source of information. Similarly to the sentiment of Tom Webster’s recent article The Podcast You Want to Make, Lower Street presents the study results as an indication B2B podcasting has their target audience into account when creating and promoting content. [Source]

Influencer spend is growing faster than social ad spend by Sara Lebow

According to eMarketer data, influencer marketing ad spend outpaced social media ad spending last year, with influencer marketing having a 20.3% positive change and social only getting 5.1% positive change. This year influencer marketing is predicted to have 14% positive growth while social ad spend only receives 4.1%. Good news for podcasting, a haven for influencer marketing. [Source]

First Cannabis Ads Coming Soon to Spotify by Thomas Edward

Cresco Labs Inc., a Chicago-based marijuana company, has announced they will be the first cannabis company to run ads for cannabis products on Spotify. The ad will be a thirty second audio creative and in-app digital banners that drive Spotify users to the e-commerce platform of Sunnyside, Cresco’s dispensary chain. The campaign will geo-target Spotify listeners in Illinois, where the sale and marketing of cannabis is legal on a state level. With this move into Spotify, Cresco is investing in podcasting to the tune of around 15% of their marketing budget. [Source]

Why Facebook, Google And Amazon Are Embracing Media Mix Modeling by John McDermott

With the slow death of third-party cookies comes the evolution of measurement. One method seeing a big comeback is one with roots back to the 1960s: media mix modeling, which uses statistical models to analyze sales and media spend data. Google, Amazon, and Meta have all either developed apps to automate the MMM process for brands, or will soon. Unfortunately this re-creates the issue of companies effectively grading their own measurement homework, as the tools are built by the same company handing out first-party data to brands. Industry-wide standards and adtech transparency will be the path forward in a world where not all measurement is created equal. [Source]

YouTube is going to remove some ad controls for creators by Jay Peters

The most popular platform for podcast listening is changing how ads work on videos. Starting in November, the YouTube Studio backend will remove individual ad controls for pre-roll, post-roll, (including skippable and non-skippable ads). Instead, if pre and post-rolls are enabled, YouTube will automatically decide whether to serve skippable or non-skippable ads. Midroll ad controls will remain the same, with a future update adding the ability to run both automatically-inserted midrolls and manually-timed ads. Currently creators can only do one or the others. [Source]

…as for the rest of the news: Reuter’s CRO Eric Dantez appears on the Digiday Podcast to discuss political advertising and AI’s role in the company, Universal Music Group has reached a deal with French music streamer Deezer to pay high-traffic artists more per-stream, Digiday covered sports streamer DAZN’s cautious journey into programmatic advertising, and an agency expert shares 5 current ad trends to pay attention to.