- 3 min read -
It seems like yesterday that I was tuning into my first episode of the Joe Rogan podcast… fast forward 38 episodes and I’m still excited to tune in. There are podcasts for everything. There is always something new and exciting to talk about, no matter what you are interested in.
Podcasts have taken the world by storm and advertisers (like us) are taking note. According to a new WARC study, podcast advertising is set to double over the next three years. This post will give you a snapshot into the world of advertising on podcasts.
The Audience
As a marketer, we all want to know what kind of a person is actually tuning in. Let’s take a look at who is listening to podcasts:
Advertising on Podcasts
If you have listened to podcasts in the past, you are probably somewhat familiar with the fact that the hosts bring up brands at some point. As an avid Joe Rogan listener, I always spend the first 30 seconds listening to Joe chat about Squarespace.
Types of Ads
Singlegrain fills us in on the two types of podcast ads that advertisers can run:
Pre-roll ads range between 15 and 30 seconds. They take place before the podcast gets started, where the host will talk about the advertisers product or service.
Mid-roll ads take place around the middle of the show. The host will chime in with a pitch about the advertisers product or service.
Costs
Podcast advertising commands some of the highest CPMs (Cost-Per-Thousand) due to the medium's desirable demographic profile and effective advertising format. The format allows advertisers to narrow their focus versus terrestrial radio while gathering measurable data.
According to John Lee Dumas, podcast advertising rates that hosts typically charge are as follows:
Mid-roll spots are the most expensive for a couple of reasons:
The Future
The future of podcast advertising has a lot of people curious. Global Ad Trends: Podcasts breaks down the rapid growth of the podcasting market.
Here are some key takeaways:
As a higher education marketer, I am excited about the opportunities podcast advertising offers to the higher ed realm. As more podcasts enlist on ad-exchanges offering increased targeting, the ad purchasing will become extremely convenient. Think programmatic display for podcasts.
Some may say radio is dead, but podcasts are proving to be a new way to leverage the power of audio ads.
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