Before we get into the news, a quick heads-up that Sounds Profitable’s own Tom Webster will be presenting new data and findings from the landmark Podcast Landscape 2024 study in a free webinar with Crooked Media VP of Sales Giancarlo Bizzaro. The two will discuss how the study’s findings show the real story behind “audio vs. video,” why podcasting remains fundamentally audio-first even with video’s crucial discovery role, and strategic implications for both podcast creators and platforms. Register now for the live webinar on Wednesday, November 20th, at 2:00 p.m. EST.
The new home of podcasting on Spotify: monetize, get discovered, and stand out with video.
Spotify for Podcasters is being rebranded to Spotify for Creators, which includes a new monetization program. The Spotify Partner Program, currently available to creators in the U.S., Canada, Australia, and the U.K. hosting their podcasts on Spotify, opens monetization options for podcasts that reach the threshold. According to Podnews reporting, the program requires at least 12 episodes, 2,000 unique Spotify users interacted in the past month, and 10,000 streamed hours in the past month (for comparison, YouTube’s partnership program threshold is 1,000 all-time subscribers and 4,000 streamed hours in the past year). Creators in the SPP earn a share of revenue whenever Spotify plays an ad on the content at designated timecodes the podcaster chooses. Video podcasters in the program will have their content presented ad-free for Spotify Premium users, with the podcaster paid for watch-time instead of direct ad revenue. In addition to the new monetization, Spotify for Creators comes with the ability to add thumbnails and promotional clips to podcast episodes.
Podcasts are packing a punch; but how effective is podcast advertising by Jane Ostler and Alison Lee
International market research company Kantar takes a look at the claims of podcast advertising’s effectiveness. Key findings include podcast ads driving brand KPI (key performance indicators), with a 1.7x increase in purchase intent, 2.4x brand favorability for high-ticket categories (such as automotive), and a particular “sweet spot” for respondents 35-44 years old with higher purchase intent and overall brand favorability due to podcast ads.
Advertisers, Creators Raise Performance Across YouTube, Reddit by Laurie Sullivan
Magna Media T rials, a research division within Magna Global, has published Reddit for Real: Unlocking the True Potential of Reddit for Brands. 63% of respondents turn to Reddit to learn new things, 59% seek differing opinions and perspectives, and 59% appreciate a variety of options rather than being funneled into timelines on platforms like Facebook. The study proposes this makes Reddit an opportunity for brands to connect with individualistic consumers who aren’t concerned with wider consensus. Brands interested in such consumers should also be looking to the form of media composed of thousands of niche productions aiming to communicate differing perspectives and opinions. Like, say, podcasting.
Amazon Has Slashed Its US Ad Spend by $700 Million This Year by Lauren Johnson and Paul Hiebert
As Amazon continues to make headlines for the waves opening Prime Video ad inventory has made in the industry, the company itself has scaled back its own ad spending, reportedly by 20% year over year for H1. This has also been accompanied with consolidation across various arms of the company, including Go convenience stores. Amazon is also shuttering their ad-supported video on demand platform Freevee with the intent of folding its SVoD content into Prime Video for one main video hub.
As for the rest of the news…
- Ted Audio Collective of TED Talks fame has struck a deal with Acast for exclusive ad sales, hosting and distribution
- Becky Ralston for Right Side Up talks about the hidden cost of podcast monetization
- Triton Digital has expanded its partnership with Signal Hill to bring Triton Podcast Metrics Demos+ to the Netherlands with launch partner OMS
- With the announcement of promo clips on Spotify for Podcasters, Headliner has debuted new resources for making clips on Spotify
- IAB Australia is currently conducting a Audio Advertising State of the Nation survey, offering free admission to Melbourne or Sydney Audio Summits in 2025 as incentive.
- Edison Research has shared the Top 50 Podcasts in the U.S. based on reach for Q3 2024 among weekly podcast listeners age 13+
