🎙️TODAY’S BRIEF

• 🔥Australian Internet Advertising Market Grows by 9.7% in 2024

• 🚨 Podcast Insight:  Podcast Listenership in Australia Surges by 42% from 2023 to 2025

• 🌏 Podcast Elsewhere:  Winners of the 2024 Asia Podcast Awards are announced

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IAB
🔥Australian Internet Advertising Market Grows by 9.7% in 2024

Data released by PwC Australia shows that the Australian internet advertising market recorded a 9.7% year-on-year growth in total spend to $15.6 billion for the financial year ending on 30 June 2024.

The Details: The IAB Australia Internet Advertising Revenue Report (IARR) underlined strong growth in short-term performance factors but varied market growth in different formats and environments.

Online video grew 18.6% year-on-year to $4.1 billion, while search and directories rose by 10.4% to $6.9 billion. In all, classifieds grew 4.3% year-on-year to $2.5 billion. Year-on-year, general display excluding video fell 1.1% to $2 billion. The traditionally standard display formats declined 13.1% year-on-year and were valued at $558.5 million. Digital audio performed strongly across the year, up 23.6% year-on-year to $290.2 million.

Connected TV remained the top platform for video inventory spending among content publishers, its share growing to 55%. But buying digital media from an agency via insertion order declined year over year, while client direct buying grew from 15% to 18% and programmatic buying rose 39% to 40%. Retail accounted for 17.7% of ad spend, making it the leading advertiser industry category for display inventory, with automotive close behind at 15.4%.

Expert comment: "Marketers are increasingly investing to reach audiences through a diverse range of digital advertising environments with video and audio formats, continuing to drive growth in the overall market," said Gai Le Roy, CEO of IAB Australia. Auto advertising spend went through the roof post-COVID to 14.9% of content owner investment.

Why it matters: The increase in investment of digital advertising environments reflects the shift in consumer behavior as trends start to shift online. Marketers realign their approach to such changes by emphasizing video and audio formats to effectively reach out to audiences for better growth in the market.

Takeaway for podcast producers : We can cash in on this trend as podcast producers by offering space and opportunities for advertisements built on the emerging trends of video and audio formats. By aligning our content to marketer and audience preference, we are allowing for revenue potential along with overall success in the digital advertising space to be maximized.

If you missed the IAB Podcasting in the Creator Economy, check below 👇

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🗞️ TL;DR - PODCAST NEWS

• MAKI+Fiesta is a two-day media festival in celebration of free expression and democracy as the cornerstone of the Philippine creative economy. Held last August 23-24 at the University of the Philippines and in partnership with the Quezon City government, this festival aims to unite a vibrant community of artists, storytellers, creators, podcasters, and innovators.

• Adalyst Media, a podcast network aimed at women, added to its lineup with This Is So Awkward.

• The 2024 Asia Podcast Awards winners were announced at the Radiodays conference in Kuala Lumpur, Malaysia.

• What Did You Do Yesterday? is the new podcast from broadcaster Max Rushden and comedian David O'Doherty where they ask guests – quite literally – 'what did you do yesterday?'

• The Centre for Investigative Reporting, which produces Mother Jones and Reveal, named podcast pioneer Kara McGuirk-Allison Senior Radio Editor today.
  

PODCAST INSIGHT 
🚨 Podcast Listenership in Australia Surges by 42% from 2023 to 2025.

The Podcast Bi-Annual Report from Australia, however, projects a 42% increase in podcast listenership from 2023 to 2025. This means there is significant growth across all the key demographic groups in the podcasting industry.

Overview: The report by CRA and Triton Digital, in conjunction with Signal Hill Insights, shows the top genres amongst Australian listeners to podcasts: Society & Culture, News, Sports, True Crime, and Comedy. It presents an average growth in monthly listenership of 8.7% compared to 2023.

Mobile devices are still the number-one source for podcast listening, at 93.4% of podcasts being listened to on mobile devices. Most podcast listening, particularly between 7am and 9am, is on Thursdays via mobile devices.

Demographically speaking, Comedy and Sports are listened to by males, while females listen to True Crime, Society & Culture, Health & Fitness, Education, and Kids/Family.

Demographics of Podcast Listeners: Income by Household, Age, and Purchasing. It basically shows that podcast listeners tend to be over-represented in higher household incomes and listened to podcasts for over 5 hours per week in fact they also conducted several online activities such as shopping and traveling.

Data Sources: The report pulls data from the Triton Podcast Monthly Ranker, from Triton Digital's IAB Tech Lab Certified Podcast Metrics, and from its Demos+ Solution, which combines quantitative metrics with audience profiling.

Why it matters : The importance of the report by CRA and Triton Digital on the Australian Podcast Bi-Annual Report is that the nature of the podcast landscape in Australia is unendingly in flux, underlined by growth across genres, listening habits, and listener demographics. The paper foregrounds the importance of mobile devices with regard to podcast listening; much more could be done regarding data collection and analysis for a deeper understanding of the competitive landscape of the Australian podcast industry.

Full report below 👇

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💳IAB
Growing Importance of Retail Media Advertising in Australia in 2024

The IAB Australia Retail Media State of the Nation 2024 Report showed that retail media advertising is becoming increasingly important in Australia, as 37% of investors stated they had spent a significant amount of their media and marketing budget in retail media over the last 18 months.

The Revelation:

• The report also points to data tapping at the moment of purchase by a retailer as important and a key driver of investment for agencies and marketers alike.

• This is because 69% of advertisers will prioritize ROAS to continue and increase investment. The need for measurement-related requirements has gone up in the last one year.

• Obstacles to retail media investment: measurement and reporting at 45%, attribution capabilities 34%, partnership cost 34%, and the complexity of brand-retailer relationships at 41%.

Zoom in :

To help support the industry, IAB Australia's Retail Media Council today launched a new collaborative industry resource: 'Australian Retail Media Measurement Principles and Guidance'. The guide outlines five principles: Transparency & consistency, Accuracy & reliability, Shopper Centric, Privacy & security, and Compliance with industry standards and best practices.

According to Gai Le Roy, chief executive at IAB Australia, this report underlines the call for increased confidence in retail media investment and reporting harmonization as more players come into the market. The report is based on data gathered from a survey of the industry, involving 134 advertising investment decision makers and influencers from media agencies, agency trading desks, creative agencies, and the brand side.

Why it matters:

The retail media landscape is going to continue to evolve and grow. Building trust and standardization in reporting is key between advertisers and media partners. By adhering to these principles and guidance, stakeholders can be better assured a more transparent, accurate, and shopper-centric approach to retail media investment.

Our take:

It is about trusting and standardizing the reporting in the retail media landscape to make sure transparency and accuracy are achieved in advertising investment. Both advertisers and media partners can benefit from the advantages of stakeholders taking a more shopper-centric approach by following guidelines and principles set out in this report.

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📌 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

• 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.

• Katie Paterson of Podcast Host wrote an article about "Podcast regulations: what lies ahead for us?

• An interesting blog post from the Headliner app about AI in podcasting: the ethical implications and how to use AI for the success of your podcast.

🛠️ 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.

Browse more Tools ➡️

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