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

• 🔥Enhancing Brand Awareness Through Effective Audio Advertising

• 🚨 Podcast Insight: The Gaming Industry Takes Over: An Unexpected Rise in Podcast Advertisements

• 🌏 Podcast Elsewhere: Flightpath is proud to announce the rollout of YouTube Predictive Analytics during the Podcast Movement conference in Washington, D.C., August 19–22, 2024.

• 🛠️Hire a Podcast Producers : Dave Visaya

MARKETS

As of 7:30 PM ET (Tuesday) . Data is provided by Yahoo Finance

🔥Enhancing Brand Awareness Through Effective Audio Advertising

One of the advertisers recently explained the role that audio plays in any media plan that is introducing a new product to market, even much more so for new brands. He underlined how important the audio was to generate mass awareness and brand recognition for the product—therefore, very key to ensuring consumer awareness and driving purchases.

John Fix revealed this in his latest blog post under the Westwood One banner.

According to Mr. Fix, audio—especially AM/FM radio—is very efficient in developing reach and brand awareness for new products. At the same time, brands are scared that audio cannot make people aware of a new product since they have not seen it. Sometimes, therefore, it is the fear of clarity of brands at the point of sale with respect to the effectiveness of a product.

He says there are three ways through which one can effectively use audio in media plans, and these include branding, packaging, and distribution/shelf. Brands should communicate a benefit that can be recognized by the consumer since advertising works poorly when the benefit is ill-defined. For example, natural products should be portrayed as safe and environmentally friendly by using audio in articulating this benefit.

He further added that packaging should also be descriptive, describing what a consumer is supposed to look for while searching on the shelf. Products must take the form of the category, like a clear bottle and a large cap, or a new type of container with pods. If the new product departs from the category's conventional form or uses different assets than those familiar to the brand, then audio should explain what the consumer is supposed to look for. This lets audio instruct consumers regarding what to look for on the shelf and aids them in identifying the brand and finding the product at point of sale.

Why does this matter ?

Audio is a key to establishing awareness for new products, as it contributes to mass awareness and brand recognition. Strong branding, packaging, and distribution are such issues on which the advertisers focus to make a campaign of the product more memorable.

Our Take :

From our viewpoint, we are advertisers who believe that audio has a place on every radar of any marketing strategy. While the addition of audio cues to marketing material may facilitate a better consumer experience, making an interaction more memorable and engaging, it is especially at the point of sale. This can lead to increased brand recognition and henceforth drive sales.

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🚨Gaming Industry Leads Podcast Ad Spend Tripling in Q2 2024: Magellan AI Report

Ad analytics firm specializing in advertising analytics, Magellan AI, has released its Podcast Advertising Benchmark Report for Q2 2024.

Revelations :

Ad spend on podcasts is up 22% YoY in Q2 with 1,516 new brands now advertising on podcasts. Gaming saw ad spend grow over threefold QoQ. Monopoly Go, Senua's Saga, and NYT Games are some of the popular top brands in the space. The share of 30-second ad units fell to 38% in Q2, which is two percentage points lower compared to Q1. Spending in total for Q2 was 7% higher than Q1, while Q2 vs. Q2 of 2023 was up in spending by 22%.

Advertisers in the top 10 spent some $94 million in Q2, which is down 11% compared to the previous quarter. Of the top 10 advertisers in Q2, 7 were also top spenders in Q1. About 47% of podcast ad spend was allocated to the top 500 shows, down 4% from Q1. The average ad spend for advertisers on podcasts in the top 500 was $252k per month in Q2. The top 500 podcasts averaged $252k per month in ad spend during Q2. Podcasts ranked 501-3000 class-averaged $30k per month in revenue during Q2.

The ad load across sampled episodes increased to 9.11% in Q2 from 8.69% in Q1, a 53% year-over-year increase from 5.95% in Q2 of 2023. Episodes running 30-60 minutes represented 40% of episodes analyzed. Direct response was 44% of overall spend in the marketplace, with brand awareness following closely behind at 54% with tune-in at 2%. Simulcast shows on YouTube are on a par with other podcasts in terms of percentage of 53% being host-read, while ad dedication holds the percentage at 6.95%. Sports remains the #1 genre for new brands to run ads in, in Q2. Business, Technology, and Education remain the leading genres for single advertiser episodes, with 14%, 13%, and 11% shares, respectively.

Spending on podcast ads has increased—the average ad load across all genres also rose. The top five genres where new brands are most likely to first run ads belong to sports, news, comedy, technology, and education.

The Data and Sources:

Magellan AI's Quarterly Benchmark Report for Q2 2024 analyzed 101,628 podcast episodes across the US, Canada, UK, Ireland, Germany, and Australia for trends, insights, and behaviors across more than 50,000 podcasts.

Why Does this Matter?

This will help the advertisers to make very informed decisions about placing their ad spend in such a way so that it maximizes the impact and reach of the podcast advertising channel. Analyzing this data from the Magellan AI report, advertisers can tune their strategy toward specific genres that much more closely align with their campaign objectives and demographic characteristics of their target audience.

Our View

With this information and analysis, podcast producers can create content that will appeal more to advertisers, hence increasing revenues. Knowing the advertising trends in podcasts can help in setting up collaborations with brands that best blend with your target audience and the kind of content produced.

1. 🇬🇧 United Kingdom : Everything I Know About Me returns for its fourth series with former professional footballer, manager and now television pundit Graeme Souness. Meanwhile,  AudioUK, the trade association for the podcast, radio and audiobook industries, has launched a short anonymized survey to gather some key data as it steps up its work to secure government action to grow the UK podcast and audiobook sector.

2. 🇮🇹 Italy : Today, on the heels of Sunglass Hut's summer campaign, "Find Every Shade of You," Acast, the global leader in independent podcasts, has announced a new partnership for an in-store experience designed for general consumers and fans alike of the Naked Beauty podcast

3. 🇨🇦 . Canada : Flightpath is proud to announce the rollout of YouTube Predictive Analytics during the Podcast Movement conference in Washington, D.C., August 19–22, 2024.

4. 🇺🇸 United States : This Friday, August 2, is your last chance to submit your podcast for the 3rd Annual Signal Awards. In Los Angeles, The Writers Guild of America East (WGAE) filed an Unfair Labor Practice (ULP) charge against Crooked Media in the midst of their first contract negotiations with the Crooked Media Worke

5. 🇬🇭 Ghana : Blue Vision Entertainment, owners of live music stage Glitch Africa and podcast network GLitch Africa Studios, declared its extension of the podcast network to Ghana as a commitment to increasing African representation in voices.SUBMIT YOUR NEWS

NEWS UPDATES

• A study by Edison Research and audiochuck, the True Crime Consumer Report, explores the appeal and changes related to true crime podcasts. The study will have its world premiere in a keynote address at Podcast Movement in Washington, D.C. on August 20, 2024 at 9am EDT.

• Podcast Movement is proud to present the second keynote session and our third round of PM24 speakers and panelists!

• Podcast Movement is thrilled to announce an extraordinary keynote session at Podcast Movement 2024 featuring two legendary public media hosts: Ira Glass and Rachel Martin!

• Podcast Movement is proud to release that this year's version of The Podcast Landscape, the largest public podcast usage study in America, will be presented by none other than Sounds Profitable's Tom Webster.

• An expert panel on "Building Podcast Franchises" includes former Navy SEAL John Allen, CEO Nick Witters, and creator Luke Lamana. Content creation in the area of audio will be discussed along with consumer product licensing, fan engagement, and general expansion of podcast brands. Panel lists meet Thursday, August 22.

• Tori Dunlap and Hala Taha are podcasters who have ripped the blueprint on scaling an enormous audience within a skeptical media environment. They explore ways to build a loyal audience, trust between creators and listeners, and advertisers. At no point in history has podcasting been more relevant in this media era. They'll hit the stage on Wednesday, August 21.

👉 Would like to be featured in our newsletter?. Come along with the growing number of podcast creators who rely on PODWIRES Marketplace to make their journey easier. Register right away

🎧 The Power of Brand Podcasting : Lesson with Lower Street Media

In this episode of That Podcast Exchange host Miko Santos interviews Harry Morton, the founder and CEO of Lower Street, an award-winning global podcast agency for brands. Harry shares valuable insights on creating successful branded podcasts, understanding target audiences, and measuring podcast ROI.

In this episode, we cover:

• Success in podcasting industry.

• Standing out in crowded market.

• Understanding brand identity and audience.

• Focusing on specific target audience.

• Having a clear point of view.

• Understanding uniqueness in podcast ideas.

• Engagement rate and completion rate.

• Building a successful podcast.

• NOVA Entertainment is hiring a Social Media and Video Producer (Podcasts)

• Spotify seeks a Production Manager to join its team in London.

• NPR is hiring a Chief Desk Editor in their Washington office.

• Blacfox is looking a Podcast Producer.

• August 19-22: Podcast Movement 2024 - Washington, D.C.

• September 3: Podcast Day Asia - Kuala Lumpur, Malaysia

• September 2 - 4 : Radiodays Asia 2024 - Kuala Lumpur, Malaysia

• September 18 : Radio Academy Festival 2024 - London, UK

Visit podworks.io to post your upcoming events or job openings for free.

• Steve Goldstein blogged about why subscriptions don't work for most podcasters.

• Do we, as podcasters, do enough to bring new listeners into the medium? Katie Paterson explained this in her article this week.

• Roni Gosch wrote in the latest Podbean blog about Turn Your Blog Into a Podcast!

• Joni Deutsch has a great article about how to win a podcast award and why it helps with podcast growth.

• Check out Morgan Swift's blog post "How to identify an ideal cross-promotional partner" if you're trying to grow your podcast audience.

• TPA Presents: How To Podcast Independently with Ronald Young Jr. Webinar Starts August 5

• Managing People to Managing Productions: A How to Guide for Editors and Producers with Mia Lobel $335 Class Starts: Sep 9 

• How to Pitch Podcast Executives and Get Your Show Made with TJ Raphael $335 Class Starts: Sep 9.

• Navigating the New and Exciting World of Audiobook Originals with Michelle Altman (Free) Webinar Starts : September 13.

• From Idea to Launch: How to Create a Sustainable Podcast with Laurel Morales $335 Class Starts: Sep 17

• How to Build Thought Leadership as a Podcaster (Even if You Think You’re Not Qualified Enough)  with Cheryl Lau Webinar Starts : September 16

• AI in Audio: Legal insights to know your rights and protect your work with Alicia Pollard Webinar Starts : September 19.

• Telling Vulnerable Stories with Ronald Young Jr. $370 Class Starts: Oct 2

• Turning Dense Information Into Great Stories with Lewis Wallace $335 Class Starts: Oct 3

• From Topic to Story: How to Find Characters and Narrative Arcs to Draw in Listeners with Sarah Esocoff $370 Class Starts: Oct 7

• Body-Ody-Audio: How to Make Sensorial, Visceral Audio with Kristina Loring $370 Class Starts: Oct 8

• Be So For Real: Interview Training for Producers, Hosts and Editors with Dom French $370 Class Starts: Oct 30

• Fact Checking 101 with Jeanette Beebe  $370 Class Starts: Nov 4

• Mind Your Business: Podcast Monetization with Annalise Nielsen $335 Class Starts: Nov 5

• Introduction to Story Editing with Willow Belden $335 Class Starts: Dec 2

Welcome to the Podcaster Toolbox, a crowd-sourced resource for independent, DIY, and/or beginning home-based podcasters.

The Kangaroofern Media Lab team will review the resources submitted here and add them as soon as possible to the Podcaster Toolbox.

• 🏜️ Transistor.fm - is a powerful and simple podcasting platform. The ability to host multiple podcasts on one account makes it ideal for podcasters with multiple shows.

• 📢 Zencastr is an all-in-one podcast production suite that gives you studio quality audio and video without needing all the technical know-how.

• 🎙️ Acast - is a podcast hosting service that enables you to publish, share, and earn money from your podcasts.

• 🎧 Epidemic Sound - is a company that provides content producers with access to a sizable library of royalty-free music.

• 🔊 Soundstripe is a platform that offers thousands of royalty free music, sound effects, and video for your projects.

• 📼 Tubebuddy - is a complete tool for YouTube channel management and growth.

• 📹 VidIQ - is a website for learning that focuses on offering video tutorials and analytics to aid users in expanding their YouTube channels.

• 🪀 Swell AI turns podcasts or videos into transcripts, clips, show notes, articles, summaries, titles, newsletters, social posts, and more.

• 📬 SparkLoop is the fastest way to get a newsletter referral program — like TheSkimm and Morning Brew — up and running.

• 🎚️ Riverside is your online studio for high-quality podcast and video recording and editing.

The complete Toolbox can be seen at https://marketplace.podwires.com/toolbox

👀 Employing? or trying to find a new job?

Do you need to hire for your podcast? Here's where you can post a job (for free). Come hang out with us at podworks.io if you are a professional podcast producer!

From The Team

📖 I appreciate you taking the time to read! See you in the next issue. Got a question or criticism? Just click on Reply. We can talk while we are here.

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