The Interactive Advertising Bureau (IAB) has released its first-ever buyer’s guide for podcast advertising, providing insights into audience demographics, listener behaviours, creative treatments, ad formats, delivery and targeting, and ad effectiveness measurement.
The Podcast Playbook features research confirming the growth of podcasts, the locations people listen to them, the methods of listening to them, the number of podcasts listeners are subscribed to, and more.
“This playbook will serve as a go-to reference guide to help brand marketers understand podcasts and effectively steer more ad dollars toward opportunities that will deliver in terms of audience reach,” said Anna Bager, SVP and general manager for mobile and video at the IAB. “In an industry where explosive growth and dramatic change have been endemic, podcasts are having a standout moment. We want to educate marketers on the unique and valuable benefits of advertising on the medium.”
Recent IAB research, conducted by PwC, forecasts that podcast revenues will reach $200m in 2017, up 87 per cent from $119m in 2016. Meanwhile, smartphones, as expected, were found to be the primary device used for listening to podcasts.
IAB also found that 44 per cent of podcast listeners are under 34, educated, wealthy, and likely to be business influencers. In addition, two-thirds of listeners cite high brand recall and nearly the same number say that podcast ads inspired a purchase.
“Podcasts create an especially intimate space for listeners to engage with content because these listeners have made an active choice to download or stream,” said Harry Clark, EVP of Market Enginuity, and co-chair of the IAB Podcast Playbook working group. “This guide provides advertisers with concise, illuminating insights to the potential of podcasts as an effective ad channel, in terms of podcast audiences, their responsiveness, and the flexibility of the medium’s delivery options.”