Podcast Power: Should You Add Podcasting To Your Strategy?

Podcasts have nearly closed the gap between local and special interest radio broadcasts. With the unique ability to explore any area of interest in great depth and make it available to the world, even the most obscure topics amass dedicated fans across the globe. You can stream episodes at home (possibly even at work too!), or download them on your smartphone and listen to them on your daily commute. Similar to a marathon Netflix session, you can binge listen to podcasts on topics uniquely interesting to you. 

With 23% of the population now listening to podcasts daily/a few times a week, chances are that you’ve heard of or listened to either “The Joe Rogan Experience” or “My Favorite Murder,” respectively holding court at spot one and two on Apple Music’s top podcast chart. Joe Rogan’s larger-than-life personality attracts a staggering 190 million downloads a month and “My Favorite Murder” snares 35 million downloads a month. With internet access and smartphones now nearly ubiquitous, podcast listenership has seen an increase of 157% since 2014. The most active listeners are between the ages of 18-34 (referred to as the coveted Millennial demographic within marketing circles), with 29% tuning in daily. 

While there’s no denying that podcasting is a booming industry, there is a question of scalability for brands who’d like to launch their own podcasts or purchase advertising but are wary of jumping into this relatively new media. However, with the changing landscape of traditional media, not capitalizing on this potential revenue stream could be detrimental in the long run. According to a 2018 Nielsen report, 69% of listeners reported that podcast ads made them aware of new products and services and they are more likely to follow companies and brands on social media. Furthermore, podcast listeners are more likely to subscribe to television streaming services, which means they are less likely to be exposed to linear TV advertising. With advertisers estimated to have spent close to $700 million on podcast ads in 2019, brands interested in launching a podcast or advertising in podcast networks will likely see a healthy ROI. 

With over thirty years of experience in integrated media planning, we’d love to discuss how podcasting could work for you. Give us a call at 781-247-0730 or send an email to info@mittcom.com 

Sources: Podcast Insights, Pew Research Center