Podcasts best medium for targeting affluent, ‘mentally engaged’ listeners: Acast
The future of podcast advertising is bright, according to new research, which shows that Australian marketing and advertising professionals are aware of the untapped nature of the nascent market.
The study was commissioned by Acast, who have podcasts in 15 different markets, and therefore admittedly have quite a bit of skin in the game. The research was done in September and October by third-party platform Attest, with a sample of 100 full-time marketing and advertising professionals working in the Australian market.
They also surveyed professionals across the UK, US, Singapore, and Canada – Mumbrella will focus on the local results only.
Marketers and advertisers did not need to spend on podcast advertising in order to be accepted into the study.
55 of those surveyed (55%) believe that podcast advertising spent will increase over the next five years, compared to just 4% who see it falling.
“Moreover, marketers within each of the five tested markets who have invested in podcast advertising before displayed notably higher confidence in its growth prospects,” the study notes, suggesting that those more familiar with the mechanics of podcast advertising are more likely to see the potential.
Podcasts are also prized by marketers and advertisers due to their ‘accurate targeting’, ‘unduplicated reach’, and the ability to reach “mentally engaged” listeners, ranking podcasts above both streaming music services and radio in these metrics.
Podcast are also much better at reaching affluent listeners than music services or radio, according to those surveyed.
Radio is still considered to have more brand safety than podcasts, although podcasts outrank music streaming services in this regard.
Most crucially, perhaps, podcasts are also deemed to be one of the most “under-advertised” mediums, with potential for longer and more frequent advertising.
“This research demonstrates the incredible opportunity that podcasting creates for advertisers to connect with highly engaged and high earning consumers,” said Director of Research and Insights at Acast Tommy Walters.
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Nathan Jolly is the Deputy Editor of Mumbrella. He joined the team in July, 2023.
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