Loyal podcast listeners will stomach a few more advertisements to support their favourite show, a study by Westwood One found. Advertisers have successfully incorporated their products into podcast programming, yet podcasts’ ability to translate that willingness by listeners into substantial revenue still lies further down the road for the medium.
In fact, about half of the respondents found most of the ads on their podcasts engaging, enjoyable and relevant. The favourable ad experience and seamless incorporation advertisers have managed to achieve on people’s favourite podcasts lead about half of the respondents to go out of their way to support brands that advertise on these programmes.
While podcast listeners are willing to sit through advertisements, podcasts have not been able to make significant revenue from advertising on podcasts, despite the audience that the medium draws. A study published by Edison Research estimates that 73 million people tune in monthly to podcasts, putting it on par with streaming music listeners. While a similar number of people listen to podcasts and stream music, PwC estimates that podcasts made about US$400 million in 2018 from ads, while ad-based streaming music made well over a billion dollars.
As podcasts find their footing and leaders in the industry turn to monetisation, advertising on podcasts will grow in the future.
Download the chart here.
Chart by Statista
More like this
More than 90 experts representing leading international media companies from 14 countries met in Berlin from February 6 to 7, 2019, at the invitation of Axel Springer for the sixth International Paid Content Summit.8th Feb 2019 Insight News
On this week’s episode of Media Voices, the team brave Snowmageddon to interview Digiday editor-in-chief Brian Morrissey, about publishing economics and sustainability, how B2B is cool, and the value of being really honest about change.4th Feb 2019 Insight News
The United Kingdom was able to drum up the most social media ad revenue in 2018, according to analysis and forecasts by Statista’s Digital Market Outlook. The UK brought in about US$2.8 billion in revenue solely from advertising on social networks, excluding revenue generated from membership-subscriptions or premium fees.4th Feb 2019 Insight News
As increasing numbers of news and magazine media publishers around the world look to reader revenue strategies for sustainable business growth, retention has taken on new importance across the magazine media landscape.11th Feb 2019 Features
The international magazine industry routinely sees big advances, large transformative strategies and exponential growth. But, changes don't always have to be big - small changes, like pebbles tossed in a lake, can have ripple effects.11th Feb 2019 Features
In December, FIPP and UPM announced the winners of the fourth annual Rising Star Awards. Amongst the accolades was the Special Jury Award, given to nine year old editor, Charlie Robinson, of Inside Out Publications.8th Feb 2019 Rising Stars
Loyal podcast listeners will stomach a few more advertisements to support their favourite show, a study by Westwood One found. Advertisers have successfully incorporated their products into podcast programming, yet podcasts’ ability to translate that willingness by listeners into substantial revenue still lies further down the road for the medium.11th Feb 2019 Insight News
“That’s what I thought. I’m ready for this. And I was excited. I had spent five years in digital; I was excited to be able to return to the media I had fallen in love with, which was print. That was the thing that defined my decision to become a magazine person in the first place. I had been a maniacal print obsessive for my whole childhood. And spending those years in digital really helped me have perspective on consumers and consumer behaviour.” - Kate Lewis, chief content officer, Hearst Magazines14th Feb 2019 Features
Visit our Youtube channelFIND OUT MORE
FIPP newsletters allow you to keep up with industry trends, research, training and events across the worldFIND OUT MORE
What’s happening now, what’s coming next