TIL: 99% of podcast advertisers...
... reach only 25% of podcast listeners ??
This, according to the Podscribe Q3 2024 Performance Benchmarks report. (Story from Podcast News Daily, ?? in comments)
That means there’s more scale to be unlocked for brands, especially since the report shows how impactful podcast ads are. Some gems:
?? Podcast ads generate a 44% incremental lift in brand activity, outperforming streaming music ads (23%).
?? Smaller brands see higher benefits, with a 62% lift compared to 16% for megabrands.
?? Midroll ads and episodic buys outperform other formats
?? Host-read and longer ads convert best
?? Simulcast campaigns on platforms like YouTube dominate impressions, capturing 65%.
Also, creative matters ??
Ad reads scoring a 7 or higher (1-to-10 scale) perform 50% better than ads scoring below 7.
(Our own Stew Redwine’s been saying this for years–Oxford Road’s Audiolytics consistently drives double-digit performance improvements.)
?? Podscribe also created podcasting’s first-ever reach curve (Sure to spark debate—Edison Research, might have a different perspective.)
According to Podscribe, it takes upwards of 1.25 billion monthly impressions to reach the entire podcast audience.
What does it all mean? We asked Neal L., (EVP of Strategy & Product, Oxford Road), to break it down for us??
“There’s a reason advertisers don’t maximize their monthly reach—it’s neither practical nor feasible. Libsyn's last published CPM benchmarks were around $20 for a :60 ad. Reaching all podcast listeners would cost $25M/month.
Even at a $10 CPM, you’re looking at $12.5M/month.
If you’re a marketer with that kind of budget, come talk to us at Oxford Road. We’ll design an audio strategy that achieves your reach goals across a diversified mix of audio channels—podcasts and beyond.”
What would you do with $12.5M of marketing spending? Sound off in the comments??
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#AudioAdvertising #Podcast #Strategy