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Study Shows Podcast Advertising is Pandemic Proof
RADIO ONLINE | Monday, January 25, 2021 |
Despite the global pandemic, podcasting has remained a good media option for advertisers. According to Edison Research's "Share of Ear," podcasting's ad-supported audio shares among persons 25-54 more than tripled from 4% in Q3 2016 to 15% in Q4 2020. With podcast listening up, Cumulus Media and Westwood One partnered with Magellan AI, a source of podcast advertising analytics, to analyze podcast advertising occurrence data from the top 400 podcasts in the U.S. through Q3 2020. This week's Westwood One blog outlines the findings:
- Podcast advertising is pandemic proof: Ad volumes quickly recovered and surged to record levels: Compared to January 2020, September 2020 total podcast ad occurrences were up an incredible +58%.
- Despite the pandemic, the number of podcast advertisers soared +42% in September off April lows: While the pandemic did depress the number of podcast advertisers in April 2020, by May the number of unique podcast advertisers was nearly back to pre-pandemic levels. September 2020 saw a record 855 advertisers, a stunning +42% increase from April.
- Podcast over-commercialism has not arrived: Throughout 2020, the average number of ads per podcast hovered slightly under three ads. September saw the number of ads per podcast to jump to 3.3, a +22% increase from April.
- Financial and insurance category spotlight: Year over year, podcast investment in the financial category is up +72%. Overall, podcast spend in the insurance category is up +83% year over
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