The Podcast Show 2022
Key Takeaways from this “New International Festival for Podcasting”
AudioOne attended the Podcast Show in Islington London last week. We had a great two days. It was excellent also to spend some time with our friends at AdsWizz.
The market is developing strongly buoyed by significant investments in content and technology. Creators and consumers alike are the winners.
Consumption is surging and ad-spend is striving to keep pace.
Below we share some of our highlights from the various keynotes, panels and workshops.
They confirm a market in rude health!
Consumer Demand (Rajar Midas Winter 2021)
35% of adults are listening to on demand music weekly compared to 20% for Podcasts
- The weekly reach of on demand music listenership has more than doubled from 17% in 2016
- The weekly reach of Podcasts has also more than doubled growing from 9% in 2016 to 20% in 2021
Podcast listening presents a pristine, attentive environment within which to place ads.
- 94% of Podcast listeners listen alone with 67% listening to all of the podcast content they begin
- 72% of smart speaker listening is to live radio versus 24% to on-demand music
Advertiser Demand (IAB PwC UK Digital Ad Spend Study 2021)
Digital Audio is the Fastest Growing Digital Channel
There has been a 58% increase in digital audio ad-spend to £164m in 2021 compared to 2020
- Podcast ad-spend increased 64% year on year
- Ad-spend on music streaming also performed strongly growing by 57%
- Music streaming now accounts for 67% of total digital audio ad-spend
Advertiser Demand (Statista UK Podcast Ad Spend 2017-2026)
In this report, the ad-spend on podcasts are forecast to reach £80m by 2026, a 43% increase in 4 years from the £56m reported in 2022
Hearing is NOT listening (Podfront Session)
Hearing refers to the physiological act of hearing sounds whereas listening revolves around actively paying attention to the words and sounds so that you absorb their meaning
Active and Passive listening are also VERY different
- Active listening involves curiosity, motivation, purpose and effort
- Passive listening is a state of being disconnected, inattentive and unreceptive
Trust and Attention To The Fore with Podcasts (Wondery and Mindshare Study, “Your Brain on Podcasts” 2019)
The lengthy periods of tuned-in, undistracted time give podcasts an unrivalled ability to get attention, build trust and create feelgood.
We process sounds 5 times quicker than images meaning the subconscious brand effect of audio is even more immediate.
Podcasts have a competitive advantage in terms of 2 scarce resources – trust and attention
- Podcasts grow brand trust while social media sources decrease it
- There is a 9% higher average memory encoding on a listener’s brain compared to the same ads running on social media
- At 15 seconds memory encoding is 38% higher for Podcast ads
- At 15 seconds emotional intensity scores were 27% higher than social media
Winning Scores for Trust and Attention on Podcasts (Guardian UK Podcast Effectiveness Study 2021)
Podcast advertising commands the highest level of attention of any media channel
- 65% of listeners paid attention to ads on Podcasts compared to 39% on TV and 38% on Radio
- 51% of consumers of each media channel said podcasts “made them want to buy something” versus 38% for radio
Podcasts Enhance Media Mix Effectiveness (Guardian UK Podcast Effectiveness Study 2021)
Overall advertising effectiveness is maximised when podcasts are added to a media mix
- When Podcasts are added to Radio, there is a 34% uplift in people agreeing that the advertising “tells me something new about the brand”
- When Podcasts are added to Digital Display, there is a 40% uplift in “trust and memorability”
Host Reads Out-Perform Non-Host Reads (Nielsen Podcast Ad Effectiveness Survey 2020)
The trust that host-reads build is a great way to sell products and services. There are significant brand lift metrics to be gained from host read ads as follows;
- Host read ads drive a 50% uplift in purchase intent and recommendations compared to non-host reads
- Host read ads inspire a 60% uplift in listeners seeking more information about a product
AudioOne Podcast
AudioOne is please to announce the addition of a number of high quality podcast content networks to its Podcast marketplace.
This sees new networks like Sony Music’s Podcast Division, Adelicious, Voiceworks and Barstool come on board.
These content partners will sit beside existing partners such as Audioboom, PodcastOne, PodWave, Spreaker, Kast Media and many others.
For vertical show lists or any other podcast information, get in touch with us today at hello@audioone.ie
Many thanks
The Team at AudioOne
