💥Welcome to Podwires, Podsky, Miguel here.

In today's episode, we're diving into the world of podcast advertising and exploring why podcast creators are at the heart of the audio revolution.

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Today’s issue takes 7 minutes to read.

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

🎙️TODAY’S BRIEF

• 🔥Podcast Advertising Sees Significant Growth in July 2023

• 🚨 Podcast Insight:  Podcast Creators: The Heart of the Growing Audio Revolution

• 🌏 Podcast Elsewhere: Podimo Expands Influence by Acquiring Dutch Podcast Producer Tonny Media.

⬇️Listen : This podcast interviews top performers and deconstructs them to find tools, tactics, and tricks to help you become a successful podcast producer.

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MAGELLAN AI
🔥Podcast Advertising Sees Significant Growth in July 2023

One of the best months of the year so far was July, when the biggest advertisers in the industry saw a 12% increase in podcast advertising spending.

The Revelation:

• Magellan AI reports that the top 15 advertisers spent $47.8 million in June, up from $42.7 million in June, with BetterHelp being the largest spender, with $7.5 million spent on podcast advertisements in July.

• Amazon, which lost to Toyota last month, is back in second place with $5.6 million in podcast ad spending for July. T-Mobile jumped from No. 14 to third this month while Toyota fell back to fourth.

• According to Magellan AI, all the top 15 brands upped their month-over-month spending, and two-thirds of the advertisers purchased ads in sports podcasts, comedy, and business, while Progressive Insurance remained the largest advertiser in the True Crime genre.

• Wells Fargo, Sleep Number, Lenovo, Kraft Heinz, PayPal, and Ikea have increased podcast ad budgets. Wells Fargo spent over $1 million in June; Sleep Number has increased its budget by over 3x to $953,000. Lenovo will spend $763,000 for back-to-school campaigns.

Why it matters:

This suggests that the increased acceptance and efficiency of podcast advertising as a methodology for reaching customers is an emerging trend. The brands are beginning to realize the benefit of diversifying their advertising strategies to reach consumers in fresh and interesting ways.

The Data:

Magellan AI uses its proprietary model to analyze podcast advertising data in the top 3,000 US podcasts. Its model uses a variety of factors to estimate spend, including the number of ads detected, downloads, CPM, ad type, podcast revenue estimates, and brand SOV breakout by show.

Our Take:

As podcasters, this we believe is a move towards personalization and interactivity of ads, leveraging the unique capability of podcasts to really connect their listeners with them. As podcasters ourselves, it's exciting to see businesses embracing the medium and creatively investing in ways to connect with desired audiences.

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🗞️ TL;DR - PODCAST NEWS

• Podimo Expands Influence by Acquiring Dutch Podcast Producer Tonny Media. Spoken audio subscription service Podimo is partnering with Dutch podcast production house Tonny Media to jointly produce exclusive shows for the Dutch market.

• Elevate Your Brand Podcasting with Lower Street Office Hours. Lower Street is proud to announce a new, free monthly virtual Q&A series: Lower Street Office Hours, where the most crucial questions you have about brand podcasting will be surfaced.

• Unlocking the Secrets of Effective Podcast Production Techniques. CitizenRacecar is an award-winning branded podcast agency that has announced a podcast series of its own, entitled (A Podcast About) Making Better Podcasts.

• New Heights Podcast Joins Wondery for Global Ad-Sales Representation. Wondery, an Amazon company and one of the world's largest podcast publishers, today announced a distribution and ad-sales representation deal for the hit sports podcast series New Heights with Jason and Travis Kelce

  
  

PODCAST INSIGHT 
🚨 Podcast Creators: The Heart of the Growing Audio Revolution

The podcast category is on fire: up 47% in the last five years alone to 135 million monthly listeners, and projected to hit $4B advertising revenue this year. In all, creators are key in setting podcasts up as a popular and resilient form of media.

The Details:

• Below are five trends that will be dug into within the 2024 SiriusXM Media Podcast Trends Report, how such trends have reshaped the industry from the creator's view, and how podcasts continue to have a really transformative force both in the field of media and storytelling.

• According to a report, podcast creators cultivate close relationships and communities with their listeners, who become highly trusting. Podcasters have innovated the medium with high-quality storytelling, production values, and cameras, leading to its expansion to more platforms, channels, and greater advertising opportunities.

• Podcasting today is an integral element of the content strategy, whereby 60% of Simplecast creators podcast for more than three years, showing the sustainability of podcast popularity. Brands are using podcast advertising to raise brand awareness, reach more audiences, and bring in better results. Creators have launched their own media empires, churning out quality content that is consumed anywhere by people.

• They assist advertisers in reaching a more diverse audience on YouTube, among other platforms, as video podcasts surge in popularity for both the listeners and brands. Equally, diverse podcast creators of all races, genders, and ages help audiences discover and tune in to stories that inspire them, thereby improving their engagement.

• 54% of multicultural podcast listeners believe podcasts should reflect a diversity of creators and storytellers. 57% wished more brands could partner with podcasts that talk about culturally relevant topics.

Why it matters:

The podcast creators have been highly contributing to the industry in terms of finding new ways of telling riveting stories. To this effect, it has created the need for making more engaging stories to be stretched across channels for increased listenership. With video podcasts, advertisers have a rare opportunity to reach a diverse audience and be creative with their content. Supporting diverse voices and partnering with podcasts that deal with culturally relevant topics are ways advertisers can make an impact that will last in the podcast industry.

Listens for podcasts are avidly consumed both in homes or on-the-go demonstrate strong interest in podcasts. Brands are capitalizing on fandom by taking over entire miniseries with presenting sponsorships, custom segments, and full-season campaigns. Podcasters are releasing seasonal drops and limited series to tell more in-depth stories while catering to a more concentrated audience. Since these episodes show up fresh and new in the podcast apps, they catch audiences' eyes-and then ears.

The Revelation:

Podcasts are increasingly popular; listeners feel included in their favorite content and community. Interacting with the hosts is becoming increasingly popular. After all, podcasts can create opportunities to build unique audiences. 48% of listeners feel less lonely than by listening to platforms like YouTube, TikTok, and Instagram.

Listeners are calling into podcasts, participating in Q&A segments, and crowdsourcing via Instagram; listeners support their favorite brands through social media, email, or a phone call. With podcasts, memorable IRL experiences are created-rewarding trust and devotion to quality brands.

Podcast creators are leaning into more integrated ad relationships to produce authentic content. After all, a whopping 79% of Simplecast creators are looking to monetize their show, and two-thirds are game to try new ad formats. By engaging hosts and truly leveraging the feedback loop, advertisers can create memorable experiences and foster a closer creator/listener dynamic.

42% of the listeners appreciate the honesty and authenticity of their favorite podcast host. They feel a deeper connection with their favorite podcast hosts, something they feel they lack in traditional media figures. Brands need to align themselves with content that resonates with them and trust their media partners to connect them with suitable shows for all parties involved.

Our Take:

We believe authentic and credible podcast sponsorships are very powerful in forging meaningful relationships between brands and a very engaged audience. By partnering strategically with top podcasters, using their influence can help bring about memorable campaigns that strike a chord with the target audience.

Full report below :

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Podcast companies are increasingly looking for ideas and content, despite the decline of in-house creatives. This workshop offers a step-by-step guide to developing a winning pitch, including refining ideas, approaching media companies looking for new podcast series, understanding executive materials, and considering potential producing partners. It bridges the gap between content and business development, equipping independent audio journalists and producers with the necessary tools to enter the marketplace with their ideas.

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📢 WHO’S HIRING?

• BFBS, the Forces Station, is looking for an experienced radio presenter-producer who wants to broadcast to British audiences worldwide.

• Global is hiring a Production Coordinator - Podcast. You will work with Podcast Producers and Podcast and Operation team Heads to ensure each slate podcast goes through the production cycle smoothly.

• EA Sports (Canada) is looking for a Audio Producer

• Pushkin Industries is hiring a Sales Lead.

• The Roost is looking for a Partnership Coordinator based either in the Los Angeles, CA or Austin ,TX area.
  
  

📌 NOTICE BOARD

• 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

• January 16 -18 : Podfest Expo - Orlando, USA

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🔆 FROM OUR COMMUNITY

• The latest from Sounds Profitable is examined by Tom Webster for pointers to make a podcasting sales pitch.

• Interesting article on "How this duo grew a podcast empire - for just $70" by Lauren Sams of the Financial Review.

• Jay Nachlis of Coleman Insights has written an interesting article about "Why Podcasters Must Urgently Adopt a Video Strategy" and he makes a good point.

• Buzzsprout reveals where the best place to get free music for your podcast will be in 2024 in their latest blog.

🛠️ 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.

• 🎙️ 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.

• 📼 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.

Browse more Tools ➡️

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FROM THE TEAM

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