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UK Podcast Adspend Growth, Avoiding Marketing Fatigue, & More

UK Podcast Adspend Growth, Avoiding Marketing Fatigue, & More

April 24, 2024

IAB: Podcast, CTV and social video ‘outperform’ digital ad market by Ella Sagar

According to the new Digital Adspend report from IAB UK, UK digital ad spend grew 11% year over year in 2023, reaching £29.6 billion ($36.8 billion USD). Highlights include the continued growth of podcast advertising, which since 2021 has closed the gap with streaming audio to an almost even split. Podcasting has grown 23% year over year, reaching £83 million revenue while streaming sits at £92 million. The total growth of audio ad spend for 2023 is 12% year over year. [Source]

What We’ve Learned About What Makes a Successful Branded Podcast by Jeff Vidler

To coincide with the release of Signal Hill Insights’ 2024 Benchmark Report for Branded Podcasts, Jeff Vidler shares several mindsets for aligning brand objectives with listener passion. A core tenant of a healthy branded podcast is understanding what unique value it can deliver to a listener, and identifying the brand perceptions the podcast can shape. For more on Signal Hill Insight’s branded podcast study, see today’s Data Snapshot down below. [Source]

5 key stats on marketing fatigue on CTV, email, and beyond by Sara Lebow

According to IAB data from last November, 36% of U.S. brands and agencies consider managing reach and frequencies across screens and channels to be their greatest challenge of that year. And frequency issues impact connected TV (CTV) ad spend, with eMarketer adjusting their 2024 forecast down $1.37 billion. Podcasting has had its teething troubles over its decade-plus of growth, but tests like the one Bryan Barletta covered in 2022 shows podcasting’s tech side has frequency capping under control. And new data is coming soon, as our upcoming study on ad frequency that debuts in May. [Source]

Podcasting is on the verge of a global revolution by Peter Houston

The final article of Campaign’s Audio Trends series takes a look at podcasting’s global growth in recent years. A YouGov survey finds 43% of respondents from Spain listen to at least an hour of podcasts each week. Indonesia leads the Asia Pacific region with 63% in the same survey. The Australian Infinite Dial poses the country to be a world leader in regular podcast listening with 43% of Australians age 12 and up listening to a podcast in the previous month, and 33% in the last week. One in ten Australians aged 12 and up listen to a podcast daily. [Source]

…as for the rest of the news:

Research Database Snapshot

Source: 2024 Benchmark Report: Branded Podcasts

What it says: Benchmarks for Branded Podcasts

What it means: Beyond the positive numbers, these data provide a useful yardstick to measure your own future success with branded podcasts

Why it’s cool: 65% of the branded podcast listeners surveyed would listen to another episode. Who would say that about another ad?