🎙️TODAY’S BRIEF

• 🔥Podcast Advertising Rates Hold Steady: Libsyn Reports $21.37 CPM for September 2024

• 🚨 Podcast Insight: Podcast Power: How Audio Advertising is Reshaping Brand Strategies with 16% More Reach in 2024

• 🌏 Podcast Elsewhere:  Podeo Partners with Dolby to Bring Immersive Atmos Audio to Arabic Podcasts.

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LIBSYN
🔥Podcast Advertising Rates Hold Steady: Libsyn Reports $21.37 CPM for September 2024

A world of deepfakes and questions about AI-generated content finds its saving grace in podcasting, which seems to suggest credibility and authenticity. Libsyn, one of the leading podcast hosting and advertising networks, has released their September 2024 Podcast Advertising Rates and finds a strong market for monetizing audio content.

As per Libsyn's September 2024 Podcast Advertising Rates, the average remains consistent at $21.37 for a 60-second ad spot, continuing to position podcasting as one of the premier channels for brands seeking premium value in the engagement and loyalty of audiences. Under the new deal, Barometer further reinforces Libsyn's commitment to brand safety and ushers in real-time content verification. This new approach promises to better the way advertisers handle podcast sponsorships by making sure that ads match up with appropriate content in real time.

This report gives an overview of the current state of podcast advertising, relying heavily on the credibility of podcast advertising among a rising tide of AI-generated content and deepfakes. It shares various CPMs for categories and a new partnership by Libsyn with Barometer to give a better brand safety solution.

The key points:

• CPM, Average for a 60-second ad spot in September 2024: $21.37

• The top three categories with the highest CPM are: Government at $31, Technology at $29, Health & Fitness at $24

• More approachable CPM categories for marketers include Kids & Family, Sports, and History

• Libsyn has a partnership with Barometer for real-time brand suitability verification

• More than 75,000 shows call Libsyn home, with Libsyn delivering more than 8 billion downloads globally

Our Analogy: Podcast advertising is like placing an ad in your favorite local newspaper. As readers trust their local paper to get the news right, similarly, podcast listeners trust their favorite shows. Now, imagine the newspaper had an entire team that vetted each story to make sure the values of every one of its advertisers matched up with the ad adjacent to it. That is what Libsyn is trying to do at scale with podcasts: making sure ads run against content that best matches the advertiser's brand-a sort of print analogy, wherein one wouldn't want a family-friendly ad awkwardly placed next to a story about crime in the newspaper.

Our View : To podcast producers, this news is enormously encouraging. Such stability in advertising rates signals that the market for podcast monetization-a key element in sustaining and continuing to develop our industry-is in good health.

This news is very encouraging from the point of view of podcast producers. The fact of stability in the advertising rates is a signal that a healthy market for podcast monetization is here, crucial for sustaining and growing our industry. Libsyn's interest in brand safety through partnerships, such as that with Barometer, may usher in an era when increased advertiser confidence yields more high-quality sponsors coming into the podcasting space.

That welcome development may translate to increased opportunities for creators across genres to monetize their content better, and hence, come up with more quality content that effectively reaches wider audiences. Emphasizing how, in a time when AI-generated content is everywhere, podcasting stands out as unusually trustworthy is a great thing to do. This will really cement our medium as one of the best options for authentic storytelling and engagement. It could mean more audience numbers, but a more considerable boost to the growth of the industry.

🗞️ TL;DR - PODCAST NEWS

• Authority by Lower Street: Revolutionizing Podcast Production for Busy Leaders. Lower Street just announced the release of "Authority," a new service that makes it easy for business leaders with minimal time to create a quality podcast, handling all the details of production, to use as a building tool for their brand and establishing thought leadership.

• Podeo Partners with Dolby to Bring Immersive Atmos Audio to Arabic Podcasts. Podeo, the leading Arabic podcast platform, is putting Dolby Atmos technology to further immersive, 3D audio experiences for listeners, even as it announces the close of a $5.4 million raise to drive global expansion and podcast discoverability and monetization.

• ALIVE Podcast Network Expands with Diverse Shows on Tech, Politics, and Personal Growth. This fall, the ALIVE Podcast Network will release a brand-new lineup of podcasts, covering personal image and mental health to technology and politics, including an interview with Jussie Smollett, in its continuing endeavor to raise underrepresented voices across the board.

• Spotify Reports Massive 94% Growth in French-Language Content Streams Since 2019. The first Francophone report into content issued by Spotify reflects sharp growth in French language audio, both in music and podcasts, audiobooks globally consumed and topping 100 million users worldwide who have engaged in that content in the last year alone.

  
  

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PODCAST INSIGHT
🚨Podcast Power: How Audio Advertising is Reshaping Brand Strategies with 16% More Reach in 2024

In what is perhaps a seismic shift in digital marketing, brands are now pivoting from creating interest and converting it to creating future demand. A study by XYZ Research Group showed how targeting a wider audience with emotive messaging drove a 20% increase in brand loyalty and a 15% increase in purchase intent.

Citing data from the Harris Poll Brand Platform, including a 25% lift in brand recall with podcast ad exposure versus TV, counters traditional, TV-centric models and makes the case for a podcast and AM/FM radio combination. By moving 20% of the subscription management app's TV budget to AM/FM radio, they realized a 16% lift in reach among 18+, driving brand awareness up 12% among the target demographic, thereby proving this new way of buying ads as effective.

From the Harris Poll Brand Tracker and Nielsen Media Impact, the insights indicate that pod ads deliver tremendous performance whereas TV produces poor results. Case studies from Company X and Company Y demonstrate that, through shifting parts of the budget from TV to AM/FM radio, the campaign reach increased by 17% upon keeping podcast spend intact-an important practical insight one may derive with respect to the potential benefits this may yield.

These findings, from in-depth studies by Cumulus Media | Westwood One Audio Active Group, put into perspective the evolving trends in media planning and allocation in the audio landscape and serve valuable insights for brands that want to optimize their advertising strategy. The Harris Poll Brand Platform, the industry-leading brand management tool, supplied essential data for brand intelligence metrics of awareness, brand equity, consideration, and purchase.

The Key points:

• Effective targeting of broad audiences with emotive messaging to drive future demand

• Comparison of performance: Podcasts deliver robust awareness, interest, and usage; TV underperforms

• Shift of 20% of TV budget into AM/FM radio results in a 16% increase in reach among adults 18+

• Role of the Harris Poll Brand Platform in measuring brand intelligence across awareness, equity, consideration, and purchase

• Future demand creation vs. conversion of existing demand: Which one is more crucial for long-term brand growth?

Our Analogy: Think of this new advertising strategy much like planting a garden. Traditional TV advertising is like planting the seeds only in places where you see fertile soil right now. The new approach is to scatter seeds across a much larger area, including places that don't look fertile yet. Some of those seeds might not grow immediately, but over time, as conditions change, they'll sprout and bloom. In that case, shifting 20% of your "seeds" (budget) from the TV patch to the radio patch gets you 16% more plants-reach. "Our take as podcast producers" paragraph:

Our View: This development in advertising strategy is exciting for us as producers in the podcasting business. Not only does the recognition of podcasts as a very potent channel for brand messaging vindicate our work, but it also opens up more avenues for growth and innovation.

With brands continuing to hold or increase their podcast spend due to performance that's "spectacular up and down the purchase funnel," expect more diverse and innovative advertising partnerships that could mean better content and more engaged listeners. This large a difference in effectiveness for podcasts versus TV might just position the medium for huge, new investments with its excellence in brand impact. The result could be a much better ecosystem where the quality of the content goes up, as does the listenership, serving both creators and audiences alike.

Full report below 👇️ 

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AMPLIFI MEDIA
🚨 Quality Over Quantity: How Top Podcasters are Rethinking Content Strategy for Maximum Impact

This is a much-needed wake-up call for every content developer and marketer in this information overflow age. In his latest book, "Earn It: Unconventional Strategies for Brave Marketers", Steve Pratt-one of the co-founders of Pacific Content, a branded podcast agency, and currently leading the Department of Differentiation-states that the average flood of content in the marketplace today has outflanked it.

His points, streamed from years of experience in the podcasting genre, are a challenge to creators to rise above mediocrity and earn audience attention through consistent excellence and value proposition.

This is the latest Amplifi Media blog and has Steve Goldstein interviewing Steve Pratt discussing some of the key themes from his new book entitled "Earn It: Unconventional Strategies for Brave Marketers". He discusses many years working in the podcasting space with companies such as Pacific Content and Department of Differentiation. It ranges from the struggles of commanding attention amidst infinite choices, a quality-over-quantity approach in creating content, to strategies of differentiators in podcasting.

The Key point:

• What "TikTok brain" and shortened attention spans mean for content creators

• Value creation and trust over time versus quick attention

• Producing content across varied platforms without sacrificing quality

• Advice to new podcasters targeting communities that are underserved

Our Analogy: Consider the present content landscape as an analogy to a busy farmers' market. Long ago, having a stand with decent produce was enough to attract customers. Nowadays, the market is flooded with vendors and shoppers have become taste-testers of the highest order. Apples don't cut it anymore, not ordinary apples; you'd have to grow unique apples nobody else has.

It's about consistently producing that brilliant product week in, week out, to build up that trust and loyalty with your audience. In the same way that the farmer would attend to his crops with extreme care and imagination, the creators must attend to the attention of the audience-who in turn must create thoughtful, unique content that genuinely enhances their lives.

Our View: To us, podcast producers, Pratt's insights represent both a challenge and an opportunity. That places the onus on quality over quantity and differentiation, thus requiring strategic and thoughtful approaches to creating podcasts.

This may mean more investment in developing distinctive, valuable content, but it could lead to deeper audience engagement and loyalty. Verified listening and completion rates can be key metrics aligned with our goals to create truly impactful content. By embracing these guidelines, we will contribute to a better quality of productions and raise the overall standards in podcasting, which in turn may mean an even bigger audience and more advertisers using the platform.

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📌 NOTICE BOARD

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• October 18- 20 : Afros & Audio Podcast Festival - Baltimore, MD

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• January 14 - 15th : Brand Podcast Summit - Virtual

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🔆 FROM OUR COMMUNITY

• How you measure the success of your podcast is a personal matter that depends largely on your goals. Katie Paterson of Podcast Host explains.

• In this conversation, Michelle Altman and Hillary Frank discuss the process of creating original audiobooks, deal structures, and the opportunities presented by this exciting new medium.

• In this latest Podbean blog post by Roni Gosch, adding video to your podcast will help you engage your audience, get your work in front of even more fans on popular video platforms, and give a boost to your promotional efforts. It's time to grow your podcasting empire.

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🛠️ PODCAST TOOLBOX

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

• 🎙️Rode - is an Australian-based audio technology company specializing in the design and manufacture of microphones, headphones, audio interfaces, and audio software.

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

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

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

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