Acast has unveiled the results of a recent study of marketers based in the USA, Canada, Australia, the UK and Singapore. The research, conducted between September and October 2023, found that globally marketers are ten times more likely to predict an increase rather than a decrease in podcast ad spend over the next five years.
Looking at each market specifically, in Australia, Canada, and the USA, more than half of marketers anticipate increasing podcast ad spend in the next five years. In Singapore, a market in the early stages of podcasting, 37 per cent expect a significant increase in ad spend over the same period. Importantly, this signals a continued and growing recognition of the value of podcast advertising within both established and emerging markets. Moreover, marketers within each of the five tested markets who have invested in podcast advertising before displayed notably higher confidence in its growth prospects, with 62 per cent of global marketers projecting increased ad spend in the coming years.
“Acast is a global company with a footprint in 15 different markets, so we know the unmatched power that podcasting has in connecting advertisers with the right audiences for their unique brand stories. Now, this research shows that marketers around the world also recognise the immense value of podcast audiences,” said Greg Glenday, chief business officer at Acast. “That’s why for nearly a decade, Acast has continued to be a trailblazer in ad tech innovations that enable advertisers to best reach these high value podcast audiences in every corner of the globe”.
When comparing podcasts to streaming music and radio, marketers from each of the five tested regions consistently ranked podcasts as the top performer for accurate targeting and unduplicated reach as well as for connecting with both mentally engaged and affluent audiences. However, these marketers ranked the medium second for brand safety.
The research also highlights the untapped potential of the space, with only 16 per cent of marketers expressing concerns about excessive advertising on podcasts. This is in contrast to the significantly larger concerns expressed about oversaturation of advertising on social media (31 per cent) and TV (35 per cent).
“This research demonstrates the incredible opportunity that podcasting creates for advertisers to connect with highly engaged and high earning consumers. At Acast, we know that simply reaching those listeners isn’t enough and as such continue to create new targeting tools and brand safety solutions that enable advertisers to reach the right audiences in the most contextually relevant moment of their listening experience that also aligns with the brand’s values,” said director of research and insights at Acast Tommy Walters.
As this research suggests, for global advertisers audience targeting capabilities and brand safety remain a priority as they consider initial and return investments in podcasting. Acast continues to find innovative ways to connect advertisers with podcast conversations around the world that align with their brand values.
Most recently, Acast partnered with Proximic by Comscore to enable cookie-free podcast audience targeting that’s based on contextual signals across its network of more than 100,000 podcasts that spans 15 global markets. Industry partnerships and innovative targeting solutions, like Acast’s suite of Conversational Targeting tools, ensures advertisers reach the most engaged and relevant audiences around the world with their unique brand message.
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