Average listening time for podcasts reached 6.5 hours per week during March 2020, according to data from Edison Research.
As companies like Spotify acquire new networks, podcast usage is growing, and advertisers are capitalising on the long-term benefits of podcasts. Ad spend on podcasts increased 11% YoY in Q4 of 2020, with more industries adapting podcast marketing, as per a MediaRadar report.
NPR, iHeartRadio, Barstool Sports, Wondery, and The Daily Wire were the top podcast producers with the most ad revenue in 2020. Further, the pool of advertisers has gotten a lot more diverse. Some of those reflecting that diversity are BetterHelp, Capital One, Geico, SimpliSafe, and ZipRecruiter.
The author highlights that podcasts are changing the storyteller-sponsor dynamic, as more influencer-like hosts are personally sponsoring products and services. With high-end data, advertisers can reach consumers more privately through podcasts.
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