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Audio’s Cross-Platform Power, Video on Spotify, & More

Audio’s Cross-Platform Power, Video on Spotify, & More

June 10, 2024

Audacy: Cross-Platform Audio Listeners Boost Results For Advertisers

Back in June of 2023, Audacy commissioned a survey by Suzy Insights looking at cross-platform listeners; audiences who consume content over the air, online, and via podcasts. 60% of respondents say they have made a purchase in the past year based on an audio ad. The survey also found that cross-platform listeners are ad-receptive and trusting, with 71% willing to listen through ad breaks in their favorite content, and the same percentage trusting their favorite audio/radio hosts. [Source]

Spotify rolls out video for all podcasts by James Cridland

Back in June of last year Spotify began rolling out the ability for podcasters who do not host their show on Spotify to upload video versions of podcasts. Since then the feature has been rolled out to more and more users, with Podnews now reporting the feature is available for some of their shows. Though, Cridland also reports some tests show that the current video system will override the RSS audio for a podcast. If one uploads a video podcast to Spotify, even audio-only streams of that episode will pull the video’s audio feed. [Source]

Australian insurance advertising spend up 6%

New Nielsen analysis finds that the insurance industry ad spend in Australia has grown 6% year over year as of May, reaching $446 million AUD. The majority of their marketing mix is TV with 42% of spend, followed by display at 20%. Radio only took home 7%. Insurance companies have a big footprint in U.S. podcast advertising, which might suggest there’s room for AU’s incredibly healthy podcasting scene to capitalize on their own insurance niche going forward. [Source]

Podcast Producers Make Do With Less After Budgets Are Sliced in Half by Ashley Carman

During their peak, sources tell Bloomberg the going rate for an eight to ten episode investigative podcast series would cost around $500,000. In recent months that price tag has fallen to the $150,000 – $250,000 range. The ramifications of these smaller budgets includes fewer episodes per season, smaller teams to report and produce the podcast, and – in some cases – money lost as shows go over-budget. Carman anticipates there likely will be more individually-financed investigative podcasts and more mergers of small companies. [Source]

To illuminate audience perceptions and expectations, Sounds Profitable’s latest study surveyed 1,000 weekly podcast listeners. The new study, Ad Nauseum, debuts Wednesday, June 12th at 3:00 p.m. EST.

How much is too much when it comes to podcast advertising? The truth is elusive: ask someone how many ads are too many, and they will likely tell you “one”, but as study after study has shown, podcast advertising works and works well, all the same. Join Tom Webster on June 12th for a free 30 minute dive into Ad Nauseam’s findings.

Register here!

…as for the rest of the news: