A recent survey by Acast and Attest reveals that podcasting offers significant growth opportunities for global marketers. It showcases its potential to reach untapped audiences and engage consumers effectively. Conducted between September and October 2023, the study surveyed 500 full-time marketers and advertisers from the USA, Canada, UK, Australia, and Singapore.
Key Findings
- Accurate Targeting and Engaged Audiences
- Perception: Podcasts lead over radio and streaming music regarding accurate targeting, unduplicated reach, and engaging mentally engaged and affluent audiences.
- Brand Safety: While radio is perceived as safer, the dynamic content of podcasts offers a compelling alternative.
- Growth Potential
- Ad Spend Increase: Global marketers are ten times more likely to predict an increase in podcast ad spend over the next five years compared to a decrease.
- Experienced Advertisers: Marketers who have previously invested in podcast advertising are more likely to anticipate continued growth, indicating the medium’s effectiveness.
- Untapped Potential
- Under-Advertised Medium: Podcasts remain one of the least advertised mediums, presenting vast untapped potential for global marketers.
- Unduplicated Reach: Podcasts rank highest in delivering unique reach among various audio types, making them a strategic choice for marketers.
- Efficient Engagement
- Targeting and Affluence: In all surveyed countries, podcasts are viewed as the best audio medium for accurate targeting and reaching engaged, affluent audiences.
Global marketers are 10X more likely to predict an increase in ad spend vs. a decrease in ad spend on podcasts in the next 5 years.
Source: Acast study via Attest – Q4 2023
Podcasts dominate across categories against streaming music and radio.
Source: Acast study via Attest – Q4 2023
Podcasts are #2 in the audio rankings for brand safety.
Source: Acast study via Attest – Q4 2023
Global marketers clearly view podcasts as the audio medium best suited for accurate targeting.
Source: Acast study via Attest – Q4 2023
Podcasting is the clear winner in the UK, with marketers picking podcasts as the top audio for all the ranking categories.
Source: Acast study via Attest – Q4 2023
Podcasts are the obvious audio winner with marketers in the USA. Podcasting’s unduplicated, engaged, diverse, and affluent audiences bring strong ROI for marketers.
Source: Acast study via Attest – Q4 2023
Methodology
The survey included 500 respondents, with 100 marketers from each of the five countries. All participants were full-time employees in marketing or advertising roles. To ensure unbiased results, prior podcast advertising experience was not a requirement for participation.
Implications for Marketers
The survey’s findings highlight podcasting as a robust platform for future advertising investments. With its ability to deliver precise targeting and engage affluent audiences, podcast advertising is poised to become a cornerstone of effective marketing strategies. As the medium remains underutilized, there is a significant opportunity for brands to tap into this growing market and connect with consumers in a meaningful way.
For marketers looking to stay ahead of the curve, investing in podcast advertising offers a promising path to reaching engaged and affluent audiences. With the medium’s proven effectiveness and untapped potential, now is the time to explore the opportunities that podcasting presents.
Download or view the full version of report here.
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