Ad spending on the medium was up and podcasts became a big topic at Digital Content Next.

Better yet, Midroll Media found that 6 out of 10 podcast listeners purchase based on the ads they hear on their favorite shows. The power of podcast ads was becoming crystal clear.

Today, podcasts and their ads are shining even brighter. A 2022 study found that 38% of the U.S. listened to a podcast in the past month, more than 3x the share recorded a decade earlier.

Advertisers have responded. Podcast ad revenue was expected to reach $2 billion in 2022 and $4 billion by 2024.

What feeds this advertising format?

Their very nature. Many podcast ads are the audio equivalent of native ads, which we know perform well.

Traditionally, host-read ads have attracted the most attention, but they may have to make way for their programmatic counterparts as advertisers seek more efficiency and performance from the format.

The question is: How, exactly, do podcasts connect to programmatic tech? 

Programmatic Podcast Ads: What We (Don’t) Know

The conversation surrounding programmatic podcast ads is more complicated than anyone would like. 

Case and point: AdExchanger featured two apparently contradictory articles.

One focuses on how programmatic audio took off. The other argued we shouldn’t expect programmatic ads for podcasts just yet. 

“As the podcast industry gained steam, it also overcame some technical hurdles,” writes Alison Weissbrot. “As for programmatic, the buying method is still nascent in podcasting but the technology is advancing.”

By way of evidence, Weissbrot points to Panoply’s new programmatic marketplace, Acast’s $35M Series C funding designed to move programmatic forward, and NPR’s foray into listener metrics. 

In a phrase, the state of programmatic podcast advertising was still uncertain—and it still is.

According to a Digiday article published in 2023, advertisers are hesitant to buy programmatic podcast ads.  

Why? They still love host-read ads, and programmatic technology strips their ability to vet the corresponding content before the ad goes live, i.e., they don’t know where their ad will play.

That said, the downfall of third-party cookies could put a premium on podcast ads as advertisers look for equally effective ways to reach consumers with targeted ads. As that happens, players rolling out programmatic podcast ad tech will have to evolve quickly to meet the rising expectations.

How Podcasts Move Programmatic Tech Forward

The success of programmatic podcast ads revolves around one thing: The technology’s ability to keep up. Advertisers big and small have come to trust programmatic technology elsewhere, which is why ad spending via programmatic means continues to rise.

Programmatic podcast advertising may reach that point, but it must prove itself first.

“The tech infrastructure that underlies much of digital ad buying wasn’t really made for audio,” Ross Benes writes at eMarketer. “The ad industry’s most popular ad servers and ad exchanges were originally designed for display. To ensure that their ad insertions aren’t too clunky, audio streaming platforms have had to build a lot of their ad tech themselves.”

According to some, the tech is coming.

“Standardized measurement will come,” one Spotify automation lead told The Drum. “If you look at video, there are a lot of verification technologies out there. None of these have a metric for audio, yet. As adoption grows and expands, those layers of verification and development will expand.” 

Which brings us to our second question: Have podcasts affected advances in programmatic tech? 

For their part, Pandora, Apple, and Spotify have dipped their toes into programmatic podcast advertising. Pandora even opened its ad inventory for programmatic buying partway through last year. 

More recently, Pandora announced that it reorganized into a cross-platform ad sales team that combines SiriusXM, Pandora and Stitcher.

Lizzie Widhelm, SVP of ad innovation and B2B marketing at SXM Media, said, “We can take the exclusive content we have from Sirius to build new shows, use Stitcher to find new audiences and monetize in a way that makes sense for the intimacy of the podcast medium.” 

Meanwhile, Spoify’s ad business is booming.

Despite the hesitation, it’s clear that advertisers are warming up to programmatic podcast ads. As the technology grows stronger and advertisers learn to trust it—like elsewhere in the programmatic world—the sentiment will warm even more.

For more insights, sign up for MediaRadar’s blog here.

That growth has continued, thanks largely to the rise of podcasts. In 2022, the number of monthly podcast listeners in the U.S. was expected to increase by 6.1% year-over-year (YoY) to 125mm. 

What’s driving podcasts to new heights? A fondness from consumers and B2B brands alike. 

For consumers, it’s all about convenience; they can learn whenever and wherever they want. 

For B2B brands, podcasts are a way to engage with an already bombarded market—and make a few bucks while they’re at it. Podcast advertising in the U.S. generated almost $1.5b as of 2021, up by 72% compared to 2020. 
The ripe opportunity has understandably created a launchpad for businesses across industry lines—there are currently almost 4mm podcasts, according to the Podcast Index.

These are some of our favorites—and ones you should pay attention to in 2023: 

The Advanced Selling Podcast

Two B2B sales trainers (Bill Caskey and Bryan Neale) with two decades of experience share tips and strategies every week. They cover nearly everything under the sun in B2B sales: “Prospecting, sales communication, buyer resistance, proposals and RFPs, pricing, cold calling, sales forecasting, pain points, psychology, positioning, deal coaching, goal setting …” the list goes on, according to Listen Notes.

Recent Episode: Metamorphosis of the Salesperson

This episode explores the current reputation of sales reps. The guys also dive into what they’re seeing in the profession and ways you can focus more on customer needs.

B2B Growth

This podcast from Sweet Fish Media provides short, digestible podcasts on the B2B market on the daily. Categories include marketing strategy, content marketing, Mar-Tech, social media, buyer personas, account-based marketing and more. 

Recent Episode: Gated’s “Advisor” Strategy – Smart or Not?

This recent episode discusses how Gated uses advisors to gain traction, mass adoption, and drive growth.

The Brutal Truth About Sales & Selling

This aptly named podcast comes from The Maverick Selling Method, which in turn comes from B2B salesman Brian G. Burns. 

Slick copy and overbearing buzzwords aside, the podcast provides an incisive look at what works in B2B selling and what is old-fashioned. “I interview the best and brightest on every topic that effects [sic] salespeople today,” Burns writes on his LinkedIn. “I avoid all the old and useless approaches.”

Recent Episode: What Selling Smarter Looks Like and How to Apply It

Brian G. Burns talks to Chris about his experience running and operating restaurants, and his pivot into sales.

Sales Success Stories

Hosted by Scott Ingram, the Sales Success Stories format is used to interview A players in sales across industries. Interviewees share their favorite strategies, tips, routines and reading material.

Recent Episode: Mentors, Grit, & Cultivating An Ownership Mindset with Zencity’s Jack English

Jack English, the top-performing Account Executive at Zencity, shares his sales story, talks about his role, reflects on his favorite stories, and shares his thoughts on the unique political nature of his sales role.

The B2B Sales Show

As the name implies, this podcast is “dedicated to helping B2B sales professionals engage their target accounts, successfully navigate the sales process, and ultimately become more effective sellers.” Most episodes feature an interview with an experienced B2B sales pro. 

Recent Episode: The Multiplier Effect: How to Make Your Whole Team Smarter

David Kreiger, President of SalesRoads, talks about the multiplier effect, how to harness it, why reps need to make (and learn) from their mistakes, and why coaches should listen more than they talk.

The Sales Evangelist

A B2B podcast with a more personal touch, The Sales Evangelist (better known as Donald Kelly) works with a “We’re all in it together” kind of message. 

With episodes posted upwards of 10 times each month, Kelly has plenty of time to jump into everything from creating an authentic personal brand to dealing with stress, fatigue and burnout in an industry with breakneck acceleration.

Recent Episode: How I Utilize Personalized Video to Build a Community and Generate Leads

Jerrod Best-Mitchell joins the show to talk about using personalized video to generate leads and build connections and community.

The B2B Sales Podcast

The B2B Sales Podcast, hosted by Skip and Thibaut, addresses core B2B sales topics—think sales development, sales training, and sales coaching—to help salespeople discover and implement new tactics. The podcast applies to anyone in sales but focuses on tech and EMEA sales.

Recent Episode: Email subject lines: The last guide you’ll ever need, with Thibaut Souyris

Thibaut shares his steps to create dozens of engaging email subject lines in less than 5 minutes. 

Make It Happen Mondays – B2B Sales Talk with John Barrows

John Barrows, a leading B2B sales trainer and founder of JBarrows Consulting, brings on industry leaders to share actionable sales tips to help sellers close more business.

Recent Episode: Eric Nowoslawski & Varun Anand: How scared should sales reps be of tools like ChatGPT replacing them?

Eric Nowoslawski & Varun Anand, the innovators behind Clay.com, are helping companies of all sizes find opportunities in the era of artificial intelligence. This episode looks at the risk of becoming redundant in the AI age and the steps you can take to remain relevant.

Daily Sales Tips with Scott Ingram

Daily Sales Tips with Scott Ingram takes a unique approach to B2B podcasting. Scott presents new tips 7 days a week—all within 5-10 minutes or less. Recent topics include improving sales by copying the Beatles (yes, those Beatles) and negotiating with clarity. 

Recent Episode: White Knuckles & Complete Strangers – Camille Clemons

Scott talks about the importance of not white-knuckling your way through life and letting go of what you think needs to happen. More importantly, he dives into how to trust what you’re doing and be okay with where you’re at. 

Sales Hacker

Sales Hacker is the leading community for modern sales professionals. The Sales Hacker podcast is an extension of that. The podcast gives B2B sellers access to the latest sales tips and tactics in B2B sales. 

Recent Episode: Smart Growth for Global Success with Carl-Erik Michalsen Moberg

In this episode of the Sales Hacker Podcast, we have Carl-Erik Michalsen Moberg, CEO and Co-Founder at TicketCo, an event sales solution for organizers and venues. Join us for a playful conversation about a wild guy who took a wild ride to become wildly successful at selling tickets.

The Power of B2B Sales Podcasts in 2023

The number of B2B sales podcasts will continue to grow in 2023—and they should. For B2B brands, podcasts offer a respite from increasingly saturated digital ecosystems.

For B2B sellers, podcasts offer access to the up-to-date and relevant information they need to thrive in their roles—all in an effortless way. 

For more insights, sign up for MediaRadar’s blog here.

The popularity of podcasts has survived a rotating cast of distribution platforms, devices, competition and (now) revenue models. In 2006, just 22% of adults in the U.S. knew about podcasting. By 2022, that number approached 80%.

The growth has understandably caught the attention of advertisers.

In 2021, podcast advertising revenue increased by 72% YoY to $1.4b and is expected to surpass $4b by 2024. To put this growth rate into perspective, the total internet advertising revenue market increased by 35% in 2021.

We can attribute much of that growth to podcasts’ popularity in society, but we must also credit the ad types that continue to prove their worth, namely, those of the host-read variety.

The recent growth is great, but where do we go from here, and will premium podcasts play a central role?

Slate and Luminary Shake-up the Podcast Revenue Model

From the early days, when you had to make your episode selection with a click wheel, podcasts have primarily been supported in two ways: Advertising within each podcast episode and fan support through platforms like Patreon. 

That’s still a thing. Today, brands love the direct-response nature of podcast ads and their ability to hyper-target niche audiences authentically.

A study from Nielsen found that host-read podcast ads were “significantly more likely to be described by respondents as authentic and believable, and less likely to be felt as forced.” 

But as podcasting truly gained steam, two media companies set their sights on challenging the underlying model—one with a platform for podcasters and the other with premium content for consumers. 

Slate: Slate is a magazine on the web and podcast network. The company’s been producing podcasts for years, but in 2019, it launched Supporting Cast, which promises to let podcast brands “shine” while “handling payments, private feed delivery, analytics, and customer support so you don’t have to.” This is in addition to Slate Plus, which offers ad-free Slate content (including podcasts) to readers and listeners for a fee.

In 2020, Slate began asking engaged readers to join Slate Plus to “keep reading articles on the site.” The move came as Slate looked to continue to diversify its revenue.

More recently, Slate’s Charlie Krammerer said he was prioritizing frequency to boost podcast revenue.

Krammerer said, “One of the things that is driving our strategy [in 2022] is frequency. Our shows are bifurcated between narrative and then everything else. When we look at our narrative stuff, our biggest [show] “Slowburn,” we just launched [our seventh season on Roe v. Wade] when SCOTUS came out with their decisions. This was a little bit of a mini-season — it was only four episodes — but might there be another shorter season later in the year? Maybe. Might there be two seasons next year that are a little shorter? Probably.

He continued, “We’re doing the same thing with our other two narrative shows: “Decoder Ring” and “One Year.” We’re coming in with basically three seasons of six or seven episodes.”

Why? It allows the company to create a deeper connection with listeners and offer more advertising opportunities to brands. Krammerer said, “So a frequency thing also allows us to have a lot more downloads and impressions available for when the money’s available.”

Luminary is a podcast app that offers access to the “thousands of shows you already love” and “access to 40+ new podcasts” billed as premium content. The new content features big names like Conan O’Brien and Trevor Noah and was sure to make a splash. 

“We want to become synonymous with podcasting in the same way Netflix has become synonymous with streaming,” Matt Sacks, Luminary’s co-founder, told The New York Times. “I know how ambitious that sounds. We think it can be done.”

Lofty ambitions aside, the question for both podcasters and advertisers alike is less about whether it can be done and more about whether the subscription model will prove viable for the industry. 

So, has it worked?

Luminary’s CEO Rishi Malhotra thinks so: “The model is working from a revenue basis.” The service’s subscriber numbers continue growing; Luminary was Apple’s #2 podcast channel in 2021.

That said, the company isn’t resting on its laurels. Last year, Luminary announced it would be the exclusive home to No Fear of Time, the first album from Yasiin Bey and Talib Kweli’s Black Star in 24 years.

Is There Still Promise with Premium Podcasting?

What’s New in Publishing wrote that in 2019 we would see more publishers “pivot to paid” by “prioritizing direct reader revenues over advertising or other revenue streams.” 

Around the time Supporting Cast went live, and months before Luminary launched, Mary-Katharine Phillips at WNIP expanded on this potential: “The pivot to paid is more than just direct reader revenues, it also includes listener revenues. We know how important habit formation is in any retention strategy, and this holds true for audio as well. Until recently, it has been very difficult for publishers to offer premium audio while still allowing listeners to keep the habits they had already formed around audio.” 

But then Slate introduced Supporting Cast, which made the shift to premium audio more realistic for publishers hoping to retain habit-forming listeners. Instead of switching apps or limiting their listening hours, the platform allows consumers to simply pay for what they see as valuable. 

But what about pure-play premium podcasts? Are they still in play?

Amazon sure seems to think so.

In 2020, Amazon acquired Wondery, which was, at the time, one of the last major independent podcast networks.

YouTube does, too.

In 2023, the company announced it’d be testing “the capacity to upload and manage podcasts in the YouTube Studio app.”

According to YouTube, the test aims to “make it easier for creators to distribute their podcasts on YouTube, we’re running an experiment that allows you to create a podcast or set an existing playlist as a podcast within Studio.”

So, what’s the verdict?

The subscription model is unlikely to completely replace ad-supported podcasts, just as broadcast television remains highly relevant as the streaming wars rage on. But the model could be poised for massive growth. 

For more insights, sign up for MediaRadar’s blog here.

Although advertising is always changing, it remains a key tool in the B2B marketer’s arsenal alongside drip campaigns and personalized landing pages.

As an ad sales pro, it’s important that you know where B2B advertising is going and how you can take advantage of trends.

1. Native Advertising Takes Over

B2B brands continue shifting their budgets from tried-and-true traditional formats to digital ones. This likely has to do with the value online advertising offers. While data is typically thought to drive programmatic advertising, online insights can guide B2B advertisers to smarter direct marketing efforts.

Said another way, they simultaneously allow for a bigger and more targeted reach.

Changing buying behaviors brought on by the pandemic—only about 20% of B2B buyers said they hoped to return to in-person sales after the pandemic—will continue to put a premium on digital formats.

But times are changing, and run-of-the-mill digital ads don’t shine as brightly as they used to.

The downfall of third-party cookies and shifting sentiment around ads mean that B2B advertisers can’t blindly throw ads online.

This is why native advertising will continue to gain steam in 2023.

In 2022, eMarketer predicted a 14.9% YoY increase in native display ad spending, with most of it going to mobile devices and social media platforms.

These ad formats—offered across the digital advertising world—deliver a more natural experience, a big reason why they’re so successful; 68% of consumers trust native ads seen in an editorial context, compared to 55% for social media ads.

Similarly, branded content studios will prove invaluable; their native feel and access to niche audiences will be too much for B2B advertisers to ignore.

2. Events Are Back

After taking a pandemic-induced break, in-person events are back, and B2B advertisers are excited.

By the second half of the year, almost half of the respondents to a survey sample said they’re “extremely likely” to return to in-person events—and that’s far from surprising.

According to Bizzabo, 87% of B2B marketers say in-person events are a critical component of their company’s success. Meanwhile, 85% of leadership (senior managers, executives, and board members) believe in-person events are important to their company’s success.

With events on their way back, B2B advertisers will look to them as an opportunity to regain authentic connections with leads and prospects they lost.

That said, virtual (and hybrid) events are unlikely to go away as B2B marketers look to connect with their total addressable market (TAM) without having to spend thousands on in-person events (booths, travel, printing, etc.). True adoption, however, will largely rely on industry players coming together to perfect software solutions that make virtual and hybrid events possible.

3. Podcast Advertising Grows

With 79% of the U.S. aware of podcasts—and a growing percentage of them highly engaged—podcast ads are poised to become an even bigger medium for B2B advertisers.

More on the nose for the B2B advertisers, research shows that podcast listeners tend to be educated and affluent.

B2B marketers are embracing the trend in a couple of ways:

• B2B brands are buying ads on existing podcasts. This allows marketers to reach an already engaged and niche audience actively paying attention. According to NPR CEO Gina Garrubbo, B2B brands make up one of their biggest advertiser categories.
• B2B brands are creating their own podcasts. These “branded podcasts” give B2B brands interested in content marketing a new medium. Creating a podcast takes more of an investment than a blog post, but it also likely leads to higher levels of engagement. Examples include Rise & Grind (ZipRecruiter), Masters of Data (Sumo Logic), and Luminaries (DELL).

The ongoing adoption of podcasts certainly has B2B advertisers’ attention, but so does the proven impact of the actual ads, namely, the ones read by hosts. Host-read ads give B2B advertisers an authentic and relatable way to connect with niche audiences.

A study from Nielsen found that host-read podcast ads were “significantly more likely to be described by respondents as authentic and believable, and less likely to be felt as forced.” 

4. Out-of-Home Advertising (OOH) Expands

OOH advertising is up across the board; OOH advertising revenue increased by nearly 30% in the second quarter of 2022 compared to the previous year, accounting for more than $2.6b.

Many B2B brands are running these ads and will continue to do so in 2023. From airports to cabs and the subway, B2B advertisers are getting their messaging across during your morning commute.

“While OOH may appear ‘old-school’ on the surface, exciting new OOH placements and integrated geolocation data have transformed the medium into a sophisticated outlet for savvy marketers,” explains Vector Media, a creative agency.

For example, location data allows advertisers to target the initial ad placement and retarget people who have been close to the ad on mobile or web platforms. It’s the natural next step in bringing together the physical and the digital in B2B advertising.

Here’s an example from The Trade Desk (TTD):

TTD’s campaign tapped into OOH advertising to reach brands, media agencies, and commuters in major metro areas. The campaign, “What Matters,” delivered programmatic OOH ads on digital panels on bus shelters, newsstands, elevators, and lobby screens. Additionally, the campaign included connected TV (CTV), YouTube, and online video ads.

OOH, especially of the digital variety, will remain top of mind among B2B advertisers as they fight to find respite from some crowded online ecosystems and prepare for a world without third-party cookies.

B2B Advertisers Fight to Stand Out in 2023

B2B advertising hasn’t always been “cool.”

Historically, B2B advertisers have defaulted to traditional channels, like print and TV, to get their message across. If they did enter the digital world, their journey was often limited to LinkedIn.

But as the B2B world grows and the competition intensifies, advertisers are spreading their wings.

As they do so, they’re adopting the latest and greatest the digital advertising ecosystem has to offer. In 2023, that means native ads, events, podcasts, and OOH.

For more insights, sign up for MediaRadar’s blog here.

Podcasting is still one of the youngest forms of media—but that doesn’t mean it’s not a great advertising investment.

The number of podcasts is growing quickly, and people are taking notice. In 2006, only 22 percent of the adult population in the United States knew of podcasting, according to Statista. Last year, that number climbed to 78 percent.

And it’s no surprise—listeners with any niche hobby or learning interest can find something to enjoy.

This is great news for advertisers because it translates to a higher engagement rate, more loyalty between the listener and the podcast host and a less intrusive way to get a brand’s message across.

We’ve been tracking podcasting advertising data since 2020. To give you insights on the state of podcast advertising going into 2022, we’ve pulled together data on:

• The top podcast advertising categories over the last two years
• How the top categories have changed since 2020
• The top ten spending podcast advertisers
• Podcast ad location and duration trends
• Shifts we expect to see in 2022

Podcasting is becoming more of a priority for brands. See how your potential clients and their competitors could be investing in podcasting and use these insights to guide your media planning in 2022. 

Top Podcasting Advertising Trends

As the number of active podcasts and listeners increase, the ad numbers surge. Advertisers spent nearly $590 million on the format last year, which is a 21% increase from the year before.

But even as the ledgers see big changes—the top spending categories are remaining stable.

The only slight shift was between Media and Tech.

Tech advertisers spent 23% more in 2021 than they did in 2020, moving into the top spending category position. 

Finance advertisers increased their spending more than any other category—by 43%. Services also jumped a noticeable 33%.

Pharma and Retail categories both jumped up by 30%, but their spending is much less than other top categories.

The only major spending category to see a significant drop was Beauty, which decreased by 28%.

Another way to understand these categories’ spending is by looking at how much they make up total podcasing ad spend. 

In 2021, the top categories made up 83% of total 2021 ad buys. The remaining 17% of advertising dollars come from smaller categories.

Top podcast advertisers in 2021

The following top ten companies account for 15.9% of the overall 2021 spending:

• Teladoc Health (BetterHelp)
• Berkshire Hathaway (GEICO)
• Capital One
• ZipRecruiter
• SimpliSafe
• Comcast
• Amazon
• Squarespace
• Coors
• Progressive

The data suggests that podcast advertising is effective. Once brands become podcast advertisers, they tend to stay the format. 79% of podcast advertisers from 2020 continued buying in the format in 2021. The top spenders were some of the most steady advertisers, as we’ll see when dig deeper into Q4.

How are podcasts inserting ads into their episodes?

When you are purchasing your ads, you might be curious about how your competitors are behaving. By looking at the data, we can see which placements are most common. 

The bulk of ads (42%) are 30 seconds in length. And most are placed in the middle of the podcast or at the beginning, when they’re less likely to be skipped. The exact breakdown is as follows:

• 26% of ads are pre-roll 
• 55% of ads are mid-roll 
• 19% of ads are post-roll

Quarterly Podcast spend 2020-2021 

In 2021, most of the growth in spending took place in the middle of the year. But this year-over-year growth seems to be related to a mixture of depressed COVID-related spending and a better overall year in 2021. Spending in 2021 was rather stable from Q2 on out. 

The largest year-over-year increase took place in Q2 2021 and Q3 2021. By Q2 2021, podcast spending had significantly climbed past spending during pre-COVID times. 

Even though big spenders are steady and faithful advertisers, much of this increased spend actually came from a surge in new, smaller brands.

Using Q4 to Shed Light on 2022 Podcast Advertising

Podcast advertising seems to be in a steady state. There were only minor differences between Q4 and the previous time periods in 2021.

Nearly $160 million in Q4 2021. If trends remain similar to those of the last three quarters, we expect to see similar spending in Q1 of 2022.

Top podcast advertisers in Q4 2021

The top ten podcast advertisers spent over $26 million in the last three months of the year.

They top spending brands include:

• Teladoc Health 
• Capital One
• Berkshire Hathaway (GEICO)
• SimpliSafe
• Comcast
• ZipRecruiter
• Amazon
• Squarespace
• Bank of America
• State Farm

The two differences between the top advertisers in Q4 and the previous quarters were the swapping out of Coors and Progressive for Bank of America and State Farm. Otherwise, the list features the same top spenders.

When it comes to category spending, the top categories looked very similar to earlier in the year. However, beauty continued on its downward spending trend and no longer made the top spending list. 

Public service advertisers contributed more to overall podcast advertising than beauty brands by the end of the year.

For more specifics, check out a brand’s spending profile

Podcast ad spending in the United States on average grows at 19% annually, six percentage points faster than the average digital audio ad expenditure growth rate.

As your brand or your clients seek to understand how you can incorporate podcasting into your media planning mix, check out the advertising profiles of other businesses. 

By dialing in on competitor spending, you can assess how much you need to invest in order to earn more market share. 

You can learn more about podcast advertising by downloading a trend report.

For more updates like this, stay tuned. Subscribe to our blog for more updates.

WeWork went from a failed IPO worth almost nothing to a public company (via a merger with a SPAC) worth $9 billion in just two years. This would be a huge accomplishment for any company, but it’s even more significant when you consider how it came back during a pandemic.

“You’ve said this is a story with drama,” said WeWork Executive Chairman Marcelo Claure. “Sure, this is a story where a lot of people wrote documentaries that it was the end of WeWork. Well the resistance, the persistence of these people is incredible. This company is here, is stronger than ever, and no doubt that we’re going to be celebrating many more milestones.”

The shared office space company is finishing the year out on a high. How has this optimism and persistence impacted their advertising?

WeWork celebrates going public

If you’re unfamiliar with WeWork, WeWork is a company that leases out office space. When you walk into an office, you see modern furnishings and a comfortable space for freelancers, small businesses, startups and even large businesses. More than 50% of Fortune 100 companies have WeWork membership access. 

In 2019, the company was planning its IPO when plans came crashing down. Concerns about unsustainably fast growth, along with the management style of eccentric and party-loving co-founder Adam Neumann and other red flags led to the implosion of the public offering. 

Now, more than two years later, WeWork finally made it to the New York Stock Exchange. 

“We got here on a different road than we anticipated, but we’re here,” remarked Claure.

Though the pandemic hit WeWork particularly hard, leaders feel optimistic about the future. The business has signed a $150 million partnership with commercial brokerage giant Cushman & Wakefield. Together, they will help provide flex-office setups for corporate service clients. 

In the lead up to going public last month, how did WeWork advertise?

MediaRadar Insights

This year (Q1-Q3 2021), WeWork spent just over $2 million in digital advertising. Their spend is down only 7% from the same period in 2020.

To put this in perspective, in 2019 (January – September), though their valuation was set at over $40 billion, WeWork spent less than $1 million in advertising across formats. 

When we look at their advertising spend month over month, we see that their spend has been concentrated in Q4 2020, Q2 and Q3 2021. These peaks coincide with their new partnerships with Cushman (Q4 2021) and in anticipation of their recent IPO.

Almost all of their spending is digital, with a heavy emphasis on Facebook and podcast purchases.

Their focus in social media (Facebook) and podcasting indicates that their target audience is millennial-aged working professionals.

The B2B working environment is in a significant time of transition. As businesses experiment with hybrid models of working and individuals eagerly seek some days out of their home office, WeWork is marketing itself as the environment in which people can thrive.

For more updates like this, stay tuned. Subscribe to our blog for more updates on coronavirus and its mark on the economy. 

It sure seems like it.

After some turbulence in listenership last year, habitual listening to podcasts is still on the rise, according to Edison Research’s annual podcast listening report, The Infinite Dial 2021. 

Audience diversity is also increasing, encouraging a wide range of content creation. 

As listeners and creators flock to the format, tech companies are moving quickly to make room for advertising opportunities.  

The Latest Moves in Podcasting Monetization

Amazon, Facebook, Apple, and Netflix are all moving fast as they expand their podcasting footprints.

After acquiring Wondery in October, Amazon has increased its podcast portfolio with the recent acquisition of Art19, a major podcast hosting and monetization platform. This is a noteworthy purchase for Amazon because the company only started offering podcasts last fall. By adding this ad marketplace that targets and inserts ads into programming, Amazon will offer podcasters a more effective way to monetize their work. 

Apple is also creating new ways to profit from podcasts. Last week the company launched the Apple Podcasters Program, designed for podcast creators. The program costs creators $19.99 a year, allowing them to easily sell podcast subscriptions to their listeners at the price point that works for them. 

Large publishers are already participating in the program, including Amazon’s Wondery, CNN, Fox News, NPR, the Washington Post, Sony Music Entertainment and Three Uncanny Four, and more.

Facebook recently launched a new podcast and live audio stream feature, in which hosts connect their show’s RSS feed to Facebook. This will create News Feed posts for new episodes that appear under a “podcasts” tab for Facebook users. Facebook is slowly launching this feature, and it is not yet available for all creators. 

The idea is that, “Facebook will be the place where people can enjoy, discuss, and share the podcasts they love with each other,” according to an email from Facebook to podcast page owners.

Netflix currently has a portfolio of about 30 podcasts that primarily generate content around their original series and films. But there’s talk going around that they’re actively looking to expand their library and will be hiring a head of audio programming shortly.

Spotify recently acquired Podz, a discovery platform. Many users already listen to podcasts for free on Spotify—but this integration will make discovering and following podcasts much easier for listeners. While other tech companies are trying to figure out monetization or expand their content, Spotify is focused on improving user experience.

Spotify already is the top platform for listeners to go to for podcasts, so this move will likely solidify their position, leading to more advertising and subscription opportunities for the platform.

There’s a lot going on in this market. As competition ramps up, how are advertisers investing in the format? 

MediaRadar Insights

Overall, the number of advertising brands and their collective ad spending are increasing.

Between January and May 2021, there were 3.5k brands spending $222mm in podcasting. In that same time period in 2020, there were 3k brands spending $179.2mm.

This is a 19% increase in ad spend YoY overall. This is a significant increase—but we recognize that comparing this year’s spending to last year’s spending isn’t a fully reliable picture because, well you know… the pandemic.

However, the positive and more telling sign of growth is that monthly ad spending in podcasts has steadily increased each month. May spending was the highest at $51.8mm.

BetterHelp was the top advertiser in podcast advertising Jan – May in 2020 and that hasn’t changed in 2021. Their spend accounted for 3% of all podcasting spend in 2020, and 4% in 2021 so far.

Though top advertisers are returning and investing more, it’s smaller companies with smaller ad placements that are breaking into the podcasting space, driving the increase in ad spend. As tech companies expand their influence in this space and integrate more advanced ad tech, we’ll keep monitoring which types of brands increase their ad buying.

For more updates like this, stay tuned. Subscribe to our blog for more updates on coronavirus and its mark on the economy.

This caused podcast advertising to surge.

As podcast audiences grow and become more diversified, how will advertisers incorporate podcasts in their media mix?

We encourage you to subscribe to our blog for the latest data surrounding the advertising industry. We will provide daily updates as COVID-19 continues to make its mark on the US economy.

How popular are podcasts, really?

Right as COVID-19 was hitting the States, Edison Research reported that 2020 numbers were in line with the continued growth they’ve seen over the past 11 years. 37% of Americans, aged 12 and up, were monthly podcast listeners. And even though podcast listenership dropped in March and April, listenership returned to normal levels, if not higher, by Memorial day. 

With over a million podcasts available, it’s no wonder podcast listenership is so high. Audiences have a wide variety of niche content at their disposable, meaning there’s something for everyone.

Podcasts have become so widespread that notable brands including Amazon, Apple, Spotify, and even Twitter want in on the action—and are more than willing to pay to stay ahead of the crowd.

Podcast Advertising Predictions

Here at MediaRadar, we expect to see a 10-15% increase in podcast-based advertising spend in 2021. This prediction is based on three trends seen in the podcast industry.

Major Backing in Podcasting

Last year, several notable brands invested heavily in podcasting.

Amazon acquired Wondery, a premier podcast network, in December 2020 and Spotify acquired podcast hosting technology company, Megaphone, in November 2020 (after buying Gimlet in early 2019). Apple is working on adding a subscription service to their podcast offerings this year, and even Twitter has jumped in the game, recently buying the struggling “social podcasting” app Breaker.

With these large companies battling it out in their podcasting investments, we expect to see them evangelize and market to their millions of existing customers—creating a more diverse selection of high-quality podcasts. 

Podcast Advertising Works

Another reason we expect brands to invest more into podcast-based advertising is that it works. 

MediaRadar data shows that podcasting advertiser renewal rates are rising, suggesting a positive ROI. Additionally, the number of advertisers placing ads in podcasts rises each sequential quarter. For example, there were almost 6,000 podcast advertisers in the Top 500 podcasts last year, up from 5,154 in 2019.

Audience Podcast Usage is Increasing

Podcast audiences have been listening to their favorite episodes more and more. 2020 was the fifth consecutive year in which average listening time increased.

In fact, Edison Research reports that average listening time is 6.5 hours per week.

The sheer amount of content available—much of it backed by brands with deep pockets —will likely drive even more engaged listening. With audiences attracted to high-quality content that fits their interests, advertisers have tremendous opportunity to reach their target customers.  

There are nearly 6,000 brands that already advertise across podcasts, and we expect to see this number increase in 2021.

For more updates like this, stay tuned. Subscribe to our blog for more updates on coronavirus and its mark on the economy. 

According to MediaRadar data, brands spent 11% more on programmatic between April and July than the same time period in 2019. 

However, the percent of programmatic advertisers who utilize ad tech to purchase premium ad units—native, podcast and video—has stayed steady.

What are the latest trends in buying premium programmatic ads and who are the top buyers?

We encourage you to subscribe to our blog for the latest data surrounding the advertising industry. We will provide daily updates as COVID-19 continues to make its mark on the US economy.

Native, podcast and video programmatic ads drive engagement

Overall, programmatic advertising is faring well this year. 

“For such a unique year, this year is following last year’s patterns pretty closely, albeit at a lower level,” said Andy Ellenthal, Staq’s CEO. “We expect to see a dip around Labor Day, the way we always do, but then we also expect it to come back.”

Of all the types of programmatic advertising, native, podcast, and video are premium purchases for advertisers. 

Native mobile ads are advancing

One of the latest advancements to native programmatic advertising is Nativo’s latest release of Mobile Ads SDK. The SDK version 5 features:

• IAB Open Measurement (OM) SDK Support 
• React Native Support 
• Brand Safety Support 
• CCPA & GDPR Compliance

According to publishers, they’re seeing about a 14% increase in CPM with this new version.

“As a mobile-first company, we realized that native ad formats are what drive increased engagement and retention among our app users,” said Co-Founder of Glow, Inc. Kevin Ho.

Programmatic podcast ads are positioned for growth

Native podcast ads are effective because they are tailored to a highly engaged audience and are intertwined with the flow of the show, often read by the show host. 

Now, podcast advertising is leveling up with programmatic formatting. Programmatic podcast ads make ads personalized for specific audiences—based on location, weather, and demographics. There are a few specialized companies leading the charge in developing programmatic advertising for podcasts, namely Audry.

“Native advertising in podcasts used to outperform all other ad types on most performance metrics because targeting was very limited, and brands used aggressive radio style ads,” explained Niklas Hildebrand, the co-founder of Audry. “With programmatic podcast advertising, this is no longer the case. The new generation of podcast ads are not only more targeted, but the assets themselves can be dynamically assembled for every listener and designed to fit the medium’s auditory style.”

This type of advertising is still in its infancy, but is already demonstrating many advantages. These benefits include scalability, better attribution data and improved relevance to audiences.

Programmatic video

A Hubspot report in 2017 that surveyed over 3,000 consumers found that video is the best type of content to attract people’s time and attention—and 54% of respondents said they wanted to see more video from brands they support.

People love video. That’s not changing any time soon, making programmatic video advertisements highly impactful. Advertisers can optimize their ad campaigns by making ads in the format that audiences want to see, plus reaping the benefits of targeted personalization, automation and scalability. 

Advertisers can choose from several different types of programmatic video ad types, including:

• In-stream videos
• Pre-roll videos
• Mid-roll videos
• Post-roll videos 
• Out-stream videos
• In-display videos

MediaRadar Insights

While the percent of digital advertisers utilizing programmatic tech is increasing, the percent of programmatic advertisers who utilize ad tech to purchase these types of premium ad units is not budging. 

In Q2 2020, 10% of all programmatic advertisers were buying the above three formats programmatically, only down from 11% in Q2 2019.

The top buyer of premium programmatic ad formats is the media industry. In fact, they make up 31% of all dollars spent on premium programmatic placements. When looking at programmatic as a whole, media makes up only 15%.

The top buyers of premium programmatic ads include: 

• PayPal
• Verizon 
• Liberty Mutual
• Geico
• L’Oreal

Collectively, these five companies made up 10% of all programmatic ad spend on premium formats.

Another buyer among the top ten spenders this year is Biden for President.

As political campaigns heat up, more sites will increase their political coverage. In a year marked by social unrest and economic inequality, advertisers may change their buying behavior as the election draws closer.

We’ll continue to monitor how advertisers behave as the year closes out— Q4 in 2020 will not likely be typical.

For more updates like this, stay tuned. Subscribe to our blog for more updates on coronavirus and its mark on the economy.

At the start of COVID-19, podcasts experienced a slump—but are proving resilient. Consumption is expected to rebound in the later half of 2020. Here’s the latest on what’s going on in the world of podcasts.

We encourage you to subscribe to our blog for the latest data surrounding the advertising industry. We will provide daily updates as COVID-19 continues to make its mark on the US economy.

Podcast ad revenue was hit, but is still growing

Podcasts weren’t immune to the cuts in advertising spend early in the pandemic. Despite the decrease in spend, advertising revenue is still growing year-over-year (YoY). 

According to IAB, podcasting ad revenue is expected to grow by 14.7% YoY this year, but last year it grew by 48% YoY. Despite the drop in growth rate, ad revenue will reach nearly $1 billion.

According to MediaRadar data, between January and June, the number of advertisers we saw in our sample of podcasts grow 10%.

The Top 5 advertisers YTD are: 

• Betterhelp
• ZipRecruiter
• Best Friends (a video game)
• SquareSpace
• TD Ameritrade.

Looking at Q1 vs Q2 we saw the top two categories buying ads trade places. Other than that, much of the rest of the market held steady.

We did see some trends we can attribute to COVID. Among the top fifty advertisers, job-focused brands (like Indeed and ZipRecruiter) and workplace brands (like Salesforce, Trello, and Netsuite) cut podcast ad spend from Q1 to Q2. 

Meanwhile brands like BetterHelp, Drizly, and Simplisafe upped their spending on podcasts in Q2.

Even though COVID-19 has impacted this media format for now, industry leaders aren’t deterred. Spotify and SirusXM have both made recent investments, suggesting COVID-19 won’t hinder the industry long-term.

Spotify strengthens its position in the podcast universe

Spotify has made two major moves in the last couple months. In May, it signed an exclusive $100 million contract with Joe Rogan. The Joe Rogan Experience will be solely available on Spotify by the end of this year. 

“We need to give [listeners] a reason to think of Spotify when it comes to podcasts,” one Spotify employee familiar with their podcasting strategy told TheWrap last October. “And having shows they want and can’t find anywhere else is only going to help us gain more [users].”

In addition to the exclusive partnership with Joe Rogan, Spotify is boosting its user experience. 

On July 14th, it launched podcast charts to help listeners find new shows. The first two charts are ‘Trending’ (what’s growing quickly in terms of number of listeners) and ‘Top’ (the top 200 most popular shows, organized by region). 

The ‘Top’ chart can also be broken down into categories: business, news, sports, etc. This categorization previously existed to a smaller extent, but users now have new ways of finding content they’ll love.

SiriusXM puts skin in the game

SiriusXM is also betting on the popularity of podcasts. It recently purchased Stitcher from Scripps for $325 million. 

Stitcher was an early player in the podcasting industry and has been around for over a decade. Since 2010, the number of podcasts published on the platform has grown over 129,000%. 

According to Stitcher, podcast listening began to return to pre-pandemic levels in mid-April. 

“The opportunity for Stitcher and its employees to join a large pure-play audio company ensures it will expand upon its success,” said Scripps President and CEO Adam Symson. With the investment of SiriusXM, its podcast service will continue to grow. 

According to SiriusXM, “With the acquisition, SiriusXM’s combined properties will contain the largest addressable audience in the U.S. across all categories of digital audio – music, sports, talk, and podcasts.” SiriusXM’s acquisition bolsters its share in the digital audio ad marketplace. 

There are already estimated to be between one and two and a half million U.S.-based podcasts. With these recent investments, it seems like there is still room to grow.  

For more updates like this, stay tuned. Subscribe to our blog for more updates on coronavirus and its mark on the economy.