🎙️TODAY’S BRIEF

• 🔥Straightforward and Benefit-Driven: "Maximizing Your Advertising Potential: Insights from Australia's $15.6bn Market"

• 🚨 Podcast Insight: Unlocking the Secrets of Podcast Consumption in America - New Report Reveals Surprising Findings

• 💳The Future of Podcasting A Conversation with Rob Greenlee

• 🌏 Podcast Elsewhere:  Magellan AI, the leader in audio intelligence and measurement, today announced the launch of Reach Lift. 

👋 Hi, Podsky!

It's Friday here in Australia, and I'm so excited to be heading off to Bali for a couple of weeks to relax! Don't worry, though — our wonderful Editor at Large Miko Santos will be the temporary captain of the ship, and I'll be back soon.

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

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IAB
🔥Straightforward and Benefit-Driven: "Maximizing Your Advertising Potential: Insights from Australia's $15.6bn Market"

Data released by IAB Australia and PwC Australia show that the Australian online advertising market has grown 9.7% year on year to $15.6 billion expenditure for the financial year ended 30 June 2024.

The figures: Video advertising climbed 18.6% year-on-year to $4.1bn. Search and directories also rose 10.4% to $6.9bn. Classifieds advertising revenues grew 4.3% YoY to $2.5bn while general display - excluding video - advertising fell 1.1% YoY to $2bn. Traditional standard display formats were down 13.1% year-on-year to $558.5m. Digital audio continued to perform strongly over the year, up 23.6% YoY to reach $290.2m.

Zoom In : Connected TV continued to hold the greatest share of video inventory spend from content publishers, increasing to 55%. Purchasing digital media from an agency via insertion order declined year-over-year, while client direct buying grew from 15% to 18% and programmatic buying grew 39% to 40%. Retail remained the top advertiser industry category for display inventory, with 17.7% of ad spend, while automotive was second at 15.4%.

Experts say: "Marketers continue to increase their investment in reaching audiences across the different digital advertising environments," said Gai Le Roy, Chief Executive Officer of IAB Australia. Auto advertising expenditure has continued to increase post the COVID-19 pandemic and now represents 14.9% of content owner investment.

Zoom Out: The top five industry categories for the financial year were finance, entertainment and health & beauty. Search and directories grew 12.1% ($1.85bn), n on-video general display grew 3.6% ($512m), classifieds grew 20.9% ($704m), and video grew 18.8% ($1.09bn).

Why it matters: Understanding ad-spending trends across industries will help marketers understand in which direction they should optimize their strategies to reach their audiences more effectively. Monitoring the areas where a majority of advertising dollars are spread enables businesses to make better decisions about the optimization of marketing budgets and strategies.

Our take as podcast producers: Knowing which sectors take the lion's share of advertising dollars helps podcast producers tailor their content to appeal to potential advertisers looking to reach certain audiences in growing sectors. Matching content to the current trends in advertising helps podcast producers increase their chances of forming partnerships and growing their revenue streams.

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🗞️ TL;DR - PODCAST NEWS

• Is long-form audio a new thing in podcasting? Here's what Ashely Carman has to say in her latest Soundbite post.

• Today, PAVE Studios' independent print and audiobook publishing division, PAVE Publishing House, announced the hiring of Kerri Kolen as Vice President.

• The UK Audio Sector is set to host two sessions at the Radio Academy Festival on 18 September 2024. The sessions, moderated by Nicole Logan, Goalhanger Executive Producer, Jack Davenport, Ami Bennett, and Rhyanna Coleman, will focus on building winning podcast partnerships and managing relationships with A-list celebrity talent.

• The final shortlist for the British Podcast Awards' 2024 Listeners' Choice Award has been announced. 

PODCAST INSIGHT 
🚨 Unlocking the Secrets of Podcast Consumption in America - New Report Reveals Surprising Findings

Sounds Profitable, the podcast industry trade organisation, today released its largest study, The Podcast Landscape 2024, measuring podcast consumption in the U.S. and monitoring platforms, discovery, and perceptions of the medium in an annual benchmark series.

The Study: The Podcast Landscape study surveyed more than 5,000 people aged 18 and above, making it Sounds Profitable's largest undertaking. The resultant research gives the industry its most reliable audience estimates and directional data; thus, it is the largest publicly available study on podcast consumption in the U.S.

The Highlights:

• Podcasts now reach 53% of American adults aged 18 and above every month, the first time that the medium has reached a majority in monthly consumption in the U.S. 37% of total respondents reported consuming a podcast in the last week.

• The medium continues to index highly with 18-54s and multicultural audiences. Plus, The Podcast Landscape is the first report to provide reliable estimates of Asian-American podcast consumption at 62% monthly and the LGBTQ+ audience at 57% monthly consumption.

• The largest growth areas for the medium are from women and those 55 years of age and over. Although the age make-up of podcasting has grown a little older than it was in 2023, 58% of non-consumers are 55+.

• Podcasting is still creating popular new content. While Joe Rogan is still at the top of any podcast chart, there are five new entrants inside this year's Top 20 Favourite Podcasts.

• Some of those new favorites have been driven by YouTube podcast consumption, and today YouTube is named as a source for podcast discovery by 52% of podcast consumers - second only to recommendations at 56%.  While some podcast networks still resist the trend, podcasting is increasingly serving both audio-first and video-first consumers.

What the experts says:

Tom Webster, Partner at Sounds Profitable, noted that "podcasting has changed, with some consumers being audio-first and others video-first, and we are proud to have put forth a study of this scope that appropriately sizes the market."

National Public Media's President and CEO Gina Garubbo says they are grateful for Sounds Profitable research on podcasting to show not only the growth but that mainstream status. NPR News Now and Up First rank among the most-listened-to podcasts in the United States and reflect consumers' desire to understand their world. Growing audiences descend on NPR's Book of the Day and Short Wave, too, reflecting the diverse appetites of its audience.

Tom de Napoli, Vice President of Revenue Strategy for American Public Media, praised Sounds Profitable's latest report as the biggest public study on podcast consumption to date, offering critical insight into how public media organizations like APM keep themselves informed about audience behavior.

Thanks to the sponsors: This study was conducted in partnership with Signal Hill Insights and made possible through the support of Wondery, American Public Media, ESPN Podcasts, BetterHelp, SiriusXM Podcast Network, LibsynAds, Paramount, and NPR.

Why it matters: The increase in podcast popularity within the upper age brackets signifies a broadening base of listenership and, therefore, perhaps the ground for sustainable growth in the medium. The rise in new favorite podcasts influenced by platforms like YouTube shows how the landscape of podcast consumption is changing and the importance of varied sources of discovery.

Our Podwires Insights: With this in mind, it's also relevant to the podcast producers themselves to consider the different kinds of platforms on which people find content and adjust accordingly in their marketing strategies. This employment of platforms like YouTube for podcast promotion allows reaching a far larger number than otherwise and leveraging the increasing interest in podcasts across demographics.

Full report Below : 👇

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IN COLLABORATION WITH SOUNTHPATH
🎧 Be So For Real: Interview Training For Producers, Editors and Hosts

ABOUT THIS CLASS

Curious how to craft the perfect interview question for your voice? Can’t seem to curate that electric conversation between your host and interviewee? Extraordinary interview moments getting cut in the final edit? Be So For Real with Dominique French has got you. Whether you’re in front or behind the mic, this interview training will prepare you to create the most genuine and impactful audio through workshops, individual instruction, sample editing and real-time interview practice. 

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💳THAT PODCAST EXCHANGE
The Future of Podcasting A Conversation with Rob Greenlee

This episode of That Podcast Exchange explores the evolution of podcasting from its audio-only roots to a more visual and audio medium. Hosted by Miko Santos, the show delves into how the industry is adapting to meet the changing expectations of audiences who now prefer the option to listen or watch podcasts with 2017 Podcast hall of Fame Rob Greenlee . Featuring insights from a podcast industry expert, the episode offers valuable information and advice for early-stage podcasters and service providers to navigate the latest trends and opportunities in the field.

If you want to chat more about this topic, I would love to continue this conversation with you, over Twitter @realmikosantos!

In this episode, we cover:

• [00:00:30] Podcasting industry changes.

• [00:04:54] Podcasting evolving into video integration.

• [00:12:15] AI and automation in podcasting.

• [00:13:30] AI-generated content in podcasting.

• [00:18:14] Authenticity in AI content.

• [00:23:51] The future of podcasting.

• [00:25:40] The future of content creation.

About the Guest

He is the founder and host of Spoken Life Media and the Spoken Life Show - RobGreenlee.com. He is also the creator and host of Live “Podcast Tips with Rob Greenlee,” Co-Host of Live "NewMediaShow.com, Host of Trust Factor, and Co-founder and advisor to PodcastEZ.com.

He is the former SVP of Content and Partnerships at Podbean.com and the VP of Podcast Content and Partnerships at Liberated Syndication (Libsyn.com & Advertisecast). He is a well-known public speaker, evangelist, technologist, and trainer for podcasting globally.

He is also a former member of the Founding Board of Governors and former Chairperson of The Podcast Academy (Ambies.com Awards). In 2017, he was inducted into the Podcast Hall of Fame and is on the Induction Committee for the 8-year-old Podcast Hall of Fame, https://PodcastHOF.com

He is also a former VP at Voxnext’s Spreaker.com, EVP/CTO at PodcastOne.com, and Podcast Content and Business Manager at Microsoft Zune, Xbox, and Windows Phone.

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📌 NOTICE BOARD

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

• October 3 & 4 : International Women's Podcast Festival - London, UK

• October 8 : Café Convos: A Networking event by BIPOC Podcast Creators - New York, USA

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

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

Visit Podwires Marketplace to post your upcoming events or job openings for free.

🔆 FROM OUR COMMUNITY

• 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?

• Matt Medeiros of The Podcast Setup wrote an interesting article about helping podcasters get paid called the "Funding Tag".

• Podbean has a great blog post up about the amazing power of audio ads!

🛠️ 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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FROM THE TEAM

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