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Podcasting is Influencing, Coverage from Cannes, & More

Podcasting is Influencing, Coverage from Cannes, & More

June 20, 2024

Before we get started, we want to quickly shout out the Keep Optimizing with Chloe Thomas and her recent episode interviewing Sounds Profitable’s very own Tom Webster. Catch the episode here!

Podcast Advertising Delivers 4.9 Times ROI and Outperforms Traditional Media, According to New Study

Acast has published a new study produced with OMD looking at the effectiveness of podcast advertising when it comes to brand building and driving sales. The study analyzed Swedish advertising campaigns from six industries and 32 different advertisers. Of the industries included, podcasting provided the highest short-term return on ad spend with 4.2x, as well as the highest long-term ROAS of 4.9x, compared to the average media ROAS of 3.7x.

RAJAR MIDAS Report – Spring 2024 coverage by Adam Bowie

The latest MIDAS report on UK audio consumption has been published by RAJAR, built from the results of 2,143 respondents aged 15+ who kept a seven day audio diary. Live radio has a firm foothold in share of audio listening time, 70% for all adults, while on-demand music takes second place with 15% and podcasts in third with 6% (or 13% if just counting the 15-24 demographic). 21% of UK adult podcast listeners spend an average of 7 hours a week listening to them, with 94% of those hours spent listening alone.

Correspondence from Cannes

The Cannes Lions International Festival of Creativity is underway in France and generating a fair amount of coverage. Before the event kicked off, MarketingBrew covered what influencers were expecting from this year’s event. Digiday dug into why influencers are drawing attention at the event, and how investment bankers + private equity are ‘here to hunt.’ Variety and Canva’s Executive Interview Studio at the event covered several executives across streaming, podcasting, and content creation.

Priceline, Coca-Cola Cos. Shift Ad Dollars as Influencers Launch Their Own Brands by Kaya Yurieffhe

While TV ad campaigns still get a significantly higher percentage of money, influencer marketing spending has steadily increased since 2015. As mentioned above, creators are making a splash at Cannes, with this being the first year influencers get a dedicated space and specially-priced tickets. This is also the first year a formal Creator Upfront was held. Brands are recognizing the power of influencer marketing to run successful campaigns. All of which bodes well for podcasting, as podcast marketing is influencer marketing.

…as for the rest of the news: