Today in the Business of Podcasting
Lapsed listening and podcast churn are due to time constraints by Amrita Khalid
New coverage of Sounds Profitable’s latest study, The Podcast Landscape in America, focuses on the reasons podcast listeners stop listening. 39% of respondents say they lack the free time to listen to podcasts, while 25% marked ‘not enough time alone.’ When asked why listeners stopped listening to a specific podcast they used to enjoy, 28% say they lost interest in the show. 18% of respondents say the content got stale and repetitive over time. 16% were put off by an excessive amount of ads per-episode, while 13% cited irrelevant ad topics as a reason. [Source]
Podcasting Today- Audience Insights from Nielsen and Edison Research
The report is built from Edison Research’s Infinite Dial, the Nielsen Scarborough Podcast Buying Power report, and the Nielsen Podcast Brand Impact norms database. Podcast consumption while in transit has risen across all age groups, becoming the most popular location to listen to podcasts for both the 18-34 and 35-49 demographics. And the ads they’re hearing while commuting to work or riding a bus are working. When averaged across 7 industries, podcast ads drove 50% unaided recall of brands from ads and 71% aided recall. [Source]
Publisher Adoption for New Video Ad Specs Lags 6 Months After Introduction by Catherine Perloff & Mark Stenberg
Two large supply-side platforms (SSPs) speaking anonymously said 20 to 30% of their publishers have adopted the new IAB Tech Lab classifications released in March, despite analysts predicting widespread adoption by the end of Q2. Reasons for the slow adoption rate include lack of financial incentive, a firm deadline, occasional lack of support from SSPs, and continued concerns that re-classifying inventory will make it less valuable. The Trade Desk assumed an unofficial position as enforcer of the new protocol back in May. In many industries, even when new standards are formally built and adopted by big names in the space (such as The Trade Desk), there’s still a chance they won’t become the norm quickly, if at all. [Source]
As Disney Loses More Streaming Subs, It Bets On Advertising by Alyssa Boyle
Disney’s overall revenue at the beginning of this quarter is up 3% year-over-year, but Disney+ is down 12 million subscribers from the previous quarter. 40% of new Disney+ accounts are ad-supported memberships. The company plans to increase the price of ad-free Hulu and Disney + to drive more interest in ad-supported memberships, adding an extra $3 per month to the cheapest ad-free tiers. Podcasting has largely operated on an either/or model, with a podcast either being a paid experience or ad-supported. Paid content that’s also ad-supported is a tough sell. [Source]
PodPod and Campaign launch Audio Advertising Awards
The sister brands have announced a new awards program based in the UK. The program features over 25 categories for audio advertisements and will be judged by a panel of industry leaders and experts. Submissions within the standard deadline are £380 plus value-added-tax, with the price going up £100 after the October 26th deadline. The awards ceremony is scheduled for March of next year. [Source]
