SiriusXM Q1 Earnings Report
This morning the company posted their Q1 earnings report. The chief statistic grabbing headlines is a decrease in satellite radio and Pandora paid subscribers. DWNLOAD Media CEO Chris Peterson highlights a particular aspect of the call not being discussed in a lot of coverage: podcasting. SXM’s podcast revenue saw a 22% year-over-year lift in Q1, with programmatic podcast revenue increasing 12% sequentially and 97% y-o-y. According to Peterson, SXM mentioned podcasts 30 times during the call. [Source]
The 24%-18%-58% Rule And A Major New Study Reveal Audio Is A Major ROI Driver by Pierre Bouvard
The rule in question demonstrates how marketing takes place over an extended time period. When looking at percentage of advertising-driven profit volume, 24% happens in week one of the campaign, 18% takes place over weeks two through 13, and 58% happens from week 14 to year 2. A big key takeaway from Bouvard: A dollar invested in audio (be it traditional radio, podcasts, or streaming) will generate $3.12 in profit within one to 13 weeks. Over a two year period that dollar can be expected to return $6.29 in profit. [Source]
In A Normalizing Post-Pandemic America, Travel Ads Take Flight
As pandemic travel restrictions and societal anxieties ease, the travel industry is returning to normal levels and pivoting back to marketing efforts. According to Magellan AI data, this is a boon for podcasting, as there has been a 63% increase in travel category ad spending between February and March. Last year the same month-to-month change was just 36%. And it’s not just the U.S., as AdNews covers new Nielsen data showing travel and tourism jumped 8% in Q1 for Australia, reaching $153 million AUD. [Source]
Ahead of Euro 2024 soccer tournament, brands look beyond TV to stretch their budgets by Sam Bradley
The Union of European Football Associations’ Euro 2024 is fast approaching, one of the largest regular sporting events in the world that will then be followed up by the Olympics kicking off in Paris. And podcasts are proving to be a good avenue for brands looking to reach passionate fans outside of TV. As covered yesterday, Magellan AI finds 9 of the top 15 advertisers in podcasting favor the sports genre. Sky Bet has announced a five month partnership with the Sport Social Podcast Network starting this month. A partnership Sky Bet says allows for flexibility, as messaging can be changed on the fly based on developments both during matches and in between games. [Source]
Course teaches students the basics of podcasting
Last summer, educator Liz Keptner wrote the curriculum for Penn State Leigh Valley’s first podcasting course. The class has two major assignments for the semester, with one of them being a narrative, scripted podcast. As more colleges and high schools start incorporating podcasts into journalism and creative writing programs, more teachers will be in Keptner’s position of having to create a curriculum about the industry from scratch. Meaning there’s a growing, underserved niche of educators looking for course materials and textbooks specifically about podcasting. [Source]
…as for the rest of the news:
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Spotify’s move into video podcasting has a big hurdle: years of users habitually using Spotify as an audio-exclusive service.
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The newest season of The Podcraft Podcast kicks off, presenting 12 successful podcasters over eight documentary-style episodes.
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As podcasting’s footprint continues to grow in China, more U.S.-based brands are dipping their toes into the market.
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Mother’s Day data reaffirms the power ads have on influencing consumer behavior.
