🎙️TODAY’S BRIEF

• 🔥Amazon Leads $7M+ Podcast Ad Spend: Sports Genre Dominates Top Advertisers 2024.

• 🚨 Podcast Insight: Why Podcast Listeners Are the New Power Spenders in Home Improvement

• 🌏 Podcast Elsewhere: Oxford Road and Veritone One Merge to Create World's Largest Podcast Advertising Group

• 🛠️ 3 New AI Podcast Toolbox to boost your productivity

👋 Hi, Podsky!

Miguel here! There's so much exciting bid news in podcasting today! For example, Slipstream has acquired Anthem's production music brand, while Oxford Road and Veritone have merged to create the world's largest podcast advertising group.

Don't forget to check out our amazing our marketplace, We've got over 1000 podcast producers ready to make your podcast dreams come true. Plus, our podcast toolbox is packed with the latest and greatest podcasting tools. Let's make great podcasts together!

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Today’s issue takes 5 minutes to read.

Let’s dive in on today’s newsletter. - Miguel

⬇️Listen : A comprehensive summary of the latest developments in podcasting, based on insights from the Podwires newsletter. Powered by AI.

MAGELLAN AI
🔥BetterHelp vs Amazon: Battle for Podcast Advertising Crown Reaches $14M+

At the end of September 2024, Amazon led podcast ad spend with $7.1 million, while BetterHelp followed with $7 million.

Meanwhile, new entrants like Bose and 23andMe have seen explosive growth rates of over 150,000% and an astonishing 363,900%, respectively, indicative of the rapid movement in the landscape of digital audio marketing. Findings by Magellan AI have taken a closer look at podcast advertising on the top 3,000 podcasts in the U.S. .

The Key Points :

• Sports is leading genre for the top 8 spenders

• Amazon and BetterHelp among leading spenders over $7 million+ each

• Major advertisers in the tech sector showed huge growth: IBM, Uber, Workday

• Renewed interest from traditional retailers: Ross Stores, Starbucks

• Newcomers: Bose and 23andMe show explosive growth.

Our Take: the stratospheric growth in spend will afford podcast producers an unprecedented opportunity to monetize their content and increase advertising commitments. With more diverse industries entering podcasting and significant rises in spend, podcast producers will have access to better CPM rates, more creative partnership options, and the ability to create even higher-quality and more diverse content.

🗞️ TL;DR - PODCAST NEWS

• AudioUK Announces 2024 Audio Production Awards Nominees: Full List Revealed. AudioUK announces its nominees in the 2024 Audio Production Awards: podcasts, audiobooks, and radio production. The winners will be announced on November 20 at London's BFI, including Production Company of the Year to Best New Voice.

• Slipstream Acquires Anthem's Production Music Brands in Major Deal. Slipstream, a music licensing platform, has acquired Anthem Entertainment's production music businesses including Jingle Punks, 5 Alarm Music, and Cavendish Music, adding 650,000 tracks to their catalog and becoming the largest independent music licensing platform globally, with the original Jingle Punks founders now reclaiming their former business through this acquisition.

• Popular History Podcasts 'Revolutions' and 'History of Rome' Choose Libsyn for Exclusive Ad Management . In an exclusive multi-year advertising partnership with Mike Duncan's popular history podcasts "Revolutions" and "The History of Rome," which have over 167 million downloads, Libsyn will manage host-read and automatic ad placements.

• Hollywood Circle Facilitator Andrea Bendewald Launches 'Circle This' Podcast to Combat Loneliness.Andrea "Dre" Bendewald is the founder of The Art of Circling and a trusted facilitator to corporate leaders and celebrities alike. She debuts with "Circle This", a podcast that reveals her transformational group mindfulness practice to combat loneliness through meaningful, shared connections and experiences.

• Oxford Road and Veritone One Merge to Create World's Largest Podcast Advertising Group . The combination of Oxford Road and Veritone One creates the single largest podcast and creator-based media entity in the world, offering brands end-to-end audio and creator-led content advertising solutions across podcasting, streaming audio, radio, and video channels.

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Why Podcast Listeners Are the New Power Spenders in Home Improvement

Online purchases of home improvement exceeded the peak pandemic-era sales during early 2024. Listeners of audio media between the ages of 18-49 years are spending more compared to other forms of media, podcast and AM/FM radio included. In a study by Open Brand and Cumulus Media | Westwood One Audio Active Group®, it has been indicated that there is a strong relationship between the consumers who listen to audio media and home improvement spenders since podcast listeners have the ability to spend 1.5 times more compared to frequent TV viewers.

The Key points:

• Spending habits online versus in-store: $4,573 vs. $3,757 annually

• Age Group Distribution: 64% of online shoppers are between the ages of 18 and 49.

• The media habits of heavy spenders, including the audio media behavior of podcast and AM/FM radio power users

• The brand equity of Wayfair across different demographics

• Impact of shifting 20% of TV ad dollars to AM/FM radio

Our Take: As producers of podcasts, we look at this information for confirmation that audio is pulling its weight in consumer behavior in affluent home improvement markets. It opens a peculiar opportunity for podcast creators to capture advertisements from major retailers who could, quite quickly, realize the potentially major shortcomings in their current TV-centric marketing efforts. This data underlines that podcast listeners are indeed active but also well-earning audiences with high purchasing power.

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🔆 FROM OUR COMMUNITY

• Radio Academy Mentoring Programme (RAMP) 2025 Applications Now Open: Key Dates and Requirements. The Radio Academy's 2025 mentoring programme pairs UK radio professionals with industry mentors for a 6-month structured development programme with one-on-one sessions, seminars, and networking opportunities. Applications are due November 7, 2024.

• Top 10 Podcasting Headphones: Professional Reviews and Recommendations for Every Budget. This in-depth guide will explain why headphones are important to podcasters while reviewing options from cheapest, Audio Technica M20x at $49, to the most expensive, Shure SRH 1540 at $499.

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• Spelman College and Spotify Partnership Culminates in New Campus Podcast Studio Launch. Spotify has opened a podcast studio at Spelman College as part of its programme to support Black audio media students with scholarships and training, expanding to other historically Black colleges and universities.
  

• Global Podcast Market Set to Reach $2.21 Billion by 2028, AI Driving 36.5% Growth Rate. A new report by Technavio says the global podcast market is set to grow by $2.21 billion during the period from 2024 to 2028 at a CAGR of 36.5%. It says growth will be driven by increasing the adoption of smartphones and smart speakers, although the high competition with other forms of media, and changing user preferences continue to pose challenges to podcast consumption.

  
  

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