Podcasts aren’t really new, but they are fairly new to marketer’s media mix toolkit. In the grand scope of media, 10 years is a relative blip when you look at how long we’ve been engaged with traditional media like AM/FM radio and linear TV.
That said, big things are happening in the podcast space. About one-in-five Americans listen to podcasts each week, and revenues in the U.S. are expected to hit half a billion this year. That’s a drop in the bucket when you compare it against the $16 billion in revenue that AM/FM radio generates, but it’s a strong start for a medium that’s only a decade or so old.
With $500 million on the line today, big companies are taking note. Notably, we’re seeing advertising shift from direct-to-consumer and direct response spots to general brand awareness ads from national brands. We’re also starting to see large media companies move into the space, notably Spotify’s recent purchase of podcast creation firm Gimlet Media and podcast distribution and analytics company Anchor.
So are podcasts ready for prime time from a business perspective?
On this episode, we’re exploring the business of podcasts: Who the players are; how content gets distributed; what the advertising options look like; and how data is growing in importance in podcast ad campaigns.
Our Nielsen guests on this episode include Bruce Supovitz, SVP of National Audio Services, Nielsen Audio, Tony Hereau, VP Client Analytics, Nielsen Audio, Brendan Monaghan, CEO of Megaphone, Damian Garbaccio, EVP, Nielsen Media, James McNamara, SVP, Nielsen, and Rachel Lowenstein, Associate Director at Mindshare.