"Acast Study: Global Marketers Eyeing Substantial Growth in Podcast Ad Spend"

The largest independent podcast company in the world, Acast, released the findings of a recent study of marketers with locations in Singapore, the UK, Canada, Australia, and the USA. The study, which took place in September and October of 2023, discovered that marketers worldwide are ten times more likely to anticipate a rise in podcast ad spending over the next five years as opposed to a fall.

Specifically speaking, over half of marketers in Australia, Canada, and the USA believe that podcast advertising spending will rise during the next five years. 37% of respondents in Singapore, a market still in its infancy for podcasts, anticipate a notable rise in ad spending during the same time frame. Significantly, this indicates that established as well as emerging markets continue to recognise the benefits of podcast advertising. Additionally, marketers who had previously invested in podcast advertising within each of the five tested markets showed noticeably greater confidence in the medium's growth prospects; 62% of global marketers predicted higher ad spend in the upcoming years.

"As a multinational corporation operating in 15 distinct markets, we are well-versed in the unparalleled potential of podcasting to link marketers with the ideal target audiences for their distinctive brand narratives. According to Acast Chief Business Officer Greg Glenday, "this research now demonstrates that marketers throughout the world also recognise the immense value of podcast audiences." "For nearly ten years, Acast has been at the forefront of ad tech innovations, enabling advertisers to effectively reach these valuable podcast audiences across the globe."

Marketers from each of the five test regions routinely ranked podcasts as the best medium for accurate targeting, unduplicated reach, and connecting with both intellectually curious and well-off audiences when compared to streaming music and radio. Nonetheless, in terms of brand safety, these marketers placed the medium second.

The study also demonstrates the unrealised potential of the medium, as only sixteen percent of marketers voiced concerns regarding podcast advertising that was too prominent. This contrasts with the much greater worries regarding the overabundance of TV (35%), and social media (31%) advertisements.

"This study highlights the enormous potential that podcasting offers marketers to reach highly motivated and well-paid consumers. Acast's Director of Research and Insights, Tommy Walters, stated, "We know that reaching those listeners alone isn't enough, so we continue to create new targeting tools and brand safety solutions that enable advertisers to reach the right audiences in the most contextually relevant moment of their listening experience that also aligns with the brand's values."

According to this research, when considering the initial and return on investment in podcasting, global advertisers continue to place a high priority on audience targeting capabilities and brand safety. Acast keeps coming up with creative ways to link sponsors to global podcast discussions that complement their brand.

In order to enable contextual signal-based, cookie-free podcast audience targeting across its network of over 100,000 podcasts across 15 global markets, Acast most recently partnered with Proximic by Comscore. Industry alliances and cutting-edge targeting options, such as Acast's collection of Conversational Targeting tools, guarantee that marketers will deliver their distinctive brand message to the world's most relevant and engaged audiences.

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