If you’re trying to connect with younger audiences, like millennials or Gen Z, odds are you’ve thought about creating a podcast for your brand.
I probably don’t need to tell you that podcasting takes time and effort. Not only do you have to figure out which topics will intrigue and captivate audiences, but you’ll also have to take time to book guests, record interviews, and build a solid recording space where you can create high-quality audio content.
As a busy marketer, you want to make sure you’re going to get a good return on your investment before you start spending time and money building a podcast.
One great way to see if podcasting could be a viable marketing tactic for your company or personal brandis through podcast advertising or sponsorships. With these tactics, you can identify podcasters with a price-point and audience target that makes sense for your brand. Then, you can work with them and leverage their expertise by sponsoring the content they’ve made. Alternatively, you could also create a native ad that aligns with their discussion topics.
If you aren’t sure if creating your own podcast is a good marketing strategy for your brand, you might see a return on podcast ads or sponsorships.
If you’re interested in a pursuing a podcast advertising strategy but aren’t sure if the right opportunities exist for your company, check out this list of more than 30 podcast advertising stats. We’ll cover podcasting’s biggest marketing opportunities, where podcasting is headed, and the demographics who tune in the most.
Podcasts and Advertising
- In 2018, 17% of marketers were actively planning to add podcasting to their strategy.
- Podcast ad spending is expected to hit $354 million this year.
- The average podcast ad slot costs between $10 to $50, with additional premium fees for shows with high listenership.
- 54% of podcast consumers say that they are more likely to consider the brands they hear advertised on podcasts.
- Podcast advertising revenue is expected to pass $1 billion by 2021.
- In 2018, there were more than 750,000 active podcasts.
- By the end of 2019, the number of podcasts jumped to 800,000
- Monthly podcast listeners grew from 24% of Americans to 26% year over year in 2018.
- The number of podcast episodes climbed to over 30 million in December 2019.
- The number of people that said they listened to a podcast at least once a week rose by 17% between 2018 and 2019.
- Between 2018 and 2019, the number of people who listened to podcasts at work doubled.
- Roughly 51% of people over the age of 12 in the U.S. have listened to a podcast at least once.
- 56% of podcast listeners are men.
- One-third of millennials regularly listen to podcasts.
- 27% of men and 24% of women listened to podcasts in 2018.
- Roughly 34% of those making $50,000 to 75,000 annually and 32% of those making $75,000 to 100,000 listen to podcasts daily — more than any other income levels.
- The biggest increase in podcast listenership in the past year has come from those in the 12-to-24 age group.
Podcast Listener Behaviors
- 32% of people listen to podcasts monthly while 22% listen at least weekly.
- Only 42% of generations older than millennials will listen to a podcast of 26 minutes or longer, compared to 60% of Gen Z and 52% of Millennials.
- While 49% of podcast listeners tune in from home, 22% listen in the car.
- Roughly 64% of people learn about podcasts through social media while about 40% of listeners say they hear about them from other friends or word of mouth.
- 80% of podcast listeners stay tuned in for most or all of the episodes they listen to.
- Podcast listeners are more likely to own a smart speaker.
- Podcasts are the number one audio source by time of consumption among podcast listeners.
- In 2018, more than 67% of podcast listeners agreed that podcasts contribute to their intellectual growth.
- Millennials and Gen Z are 5% more likely to listen to podcasts for professional reasons than older generations.
- Roughly 50% of customer service reps have listened to a podcast at work.
- While 43% of people who listen to podcasts at least monthly listen via Spotify, 35% use Pandora.
- More than half of millennials listen to educational podcasts.
- 62% of podcast listeners say they’d be more likely to share podcasts with friends if they were able to share one short segment or highlight of it, rather than an entire episode.
- In late 2018, premade edited in podcast ads made up 51% of placements. However, dynamic ads rose from making up 44% of ad placements in 2017 to 48% in the following year.
- The amount of branded content in podcasts increased by nearly 10% between 2017 and the end of 2018.
- More than 38% of podcast advertisements are sold and purchased on a quarterly basis.
- Nearly 86% of podcasters charge for ads with cost-per-mille pricing.
- NPR notes that 75% of its podcast listeners will respond or take action after hearing sponsored content.
Considering podcast advertising?
As you’ve seen with the stats above, podcasting is growing in popularity — especially among younger generations. And while it is often considered a form of “entertainment,” podcast content can be incredibly versatile.
For example, although millennials or Gen Z listen to podcasts that feature interviews with big celebrities, they’ll also listen intently to smaller shows that educate them about new trends or news that impacts their life or career.
Because there are so many podcasts, and so many listeners with buying potential, you might want to consider podcast sponsorships in your future advertising plan.