From An Ad Buyer’s Playbook on Podcast Advertising

First…the facts…

Global Reach: The number of podcast listeners worldwide is expected to reach 504.9 million by the end of 2024, which will be equal to 23.5% of the total internet users¹.

• Age Groups: A significant portion of podcast listeners in the U.S. are aged 12-34, accounting for 66% of the audience.

• Listening Habits: The average American listens to 8 podcasts weekly, with the average podcast listener spending 7 hours per week tuned into their favorite shows.

• Device Preference: Smartphones are the preferred device for podcast consumption, with 73% of listeners using them, followed by laptops and desktops at 13%.

• Discovery: 40% of listeners discover new podcasts through in-app search functions, with friends, family, and internet searches also being popular methods.

• Listening Occasions: Most people (59%) listen to podcasts while doing something else, with 32%tuning in while driving or traveling.

• Popular Platforms: Spotify and Apple Podcasts are the leading platforms, holding 33.7% and 27.6% of the total listener share, respectively.

• Genre Preferences: Comedy is the most popular podcast genre in the U.S., followed closely by news, true crime, and sports.

This data underscores the diverse and growing audience for podcasts, highlighting the medium’s potential for targeted and effective advertising opportunities.

Discussion:

A compelling argument for advertising on podcasts. Here are some key points backed by data:

Targeted Audience Reach: Podcasts offer the ability to reach a highly targeted audience. Unlike radio’s broad and general approach, podcasts cater to niche interests, allowing advertisers to deliver messages to a more engaged and specific demographic.

Flexibility and Convenience: Podcasts provide listeners with the flexibility to consume content on their own schedule. This anytime, anywhere approach means that ads have the potential to be heard more consistently as listeners choose when they engage with the content.

Cost-Effectiveness: In 2022, it was forecasted that advertisers would spend an average of $13.70 per podcast listener, compared to the $52.10 they would spend per on-air radio listener. This suggests that podcast advertising offers a more cost-effective channel with room for growth.

Higher Engagement: Podcast listeners tend to be more engaged with the content they choose, which extends to the ads they hear. Ads on podcasts are often considered more relevant to the listener, leading to better recall and a higher likelihood of taking action.

Analytics and Measurement: The digital nature of podcasts allows for more precise analytics and tracking of ROI. Advertisers can gain insights into listener behavior and ad performance, which is more challenging with traditional radio’s broader metrics.

Personalized Messaging: Podcast ads can be tailored to fit the content and the audience, creating a more personal connection. This one-on-one communication style can drive valuable connections and conversions.