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| 1 | | Podcast advertising saw rapid growth in Q1 2023, as digital audio had a 55.4% share of national audio ad dollars in the first part of the year. According to Standard Media Index (SMI), national ad spending on podcasts grew 43.7% YoY. More: - Pre-recorded spot spending was up 46.9%, and spending on host-read ads was up 30.7%.
- Spending on sponsorships and branded content saw a 51.4% rise during Q1.
- Podcasting only has about a quarter of the national brands' digital audio investment, as streaming music services still have a 74% share.
- "Podcasts are very connected to the user in the audience because it's geared to a specific topic or conversation," says Darrick Li, VP of Business Development & Strategic Partnerships at SMI. "What appeals to advertisers is being able to demographically target their advertising message to content. So I think naturally, because of that, you're going to have that ability to see a larger share of spending go towards that."
- The shift in recent years from traditional media to digital media is backed up by the numbers.
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What the numbers say: 52% of marketers believe that advertising in a podcast is more effective for brand engagement and collaboration than other forms of media. 36% of respondents said that podcast marketing is somewhat more effective for brand engagement, and 16% said it is much more effective. Marketers also highlighted purchase intent as a key for brand spending on podcasts, as 58% of marketers thought it was effective. Relevance: WRAC conducted the Sonic Boom study on behalf of Spotify to see how digital audio is perceived by marketers. It surveyed over 350 CPG and retail marketers in the U.S., U.K., Canada, Germany, France, Germany, Italy, and Spain. It found that marketers from North America were much familiar with podcasting. But the study podcasts were seen as favorable marketing spots at least 48% of the time. More data: Brand awareness and perception earned 48% of the effective vote, with only 15% of respondents saying podcasts were much more effective. Conversation at the point of purchase earned the highest "Much more effective" votes, as 20% of respondents chose that. | | | |
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| 3 | | Amazon is trying to boost its podcast listener numbers in Australia by incentivizing certain listeners with promotional credits. Amazon is offering to pay some listeners who agree to stream at least one podcast through the Amazon Music app in May. More: - Listeners will earn a $5 promotional credit just to listen to a podcast through Amazon. But it isn't available to every Amazon user in Australia.
- Emails began going out over the weekend to select users, and only they or users that received push notifications through the Amazon app are eligible.
- They also will only receive $5 off a purchase of $20 or more on Amazon.
- Users also can't use the promotional credit for Amazon Renewed items, e-books, songs, gift cards, or to cover a delivery fee.
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| 4 | | Barometer, an AI company focusing on data-driven insights, and NewsGuard, the global leader in news reliability ratings, announced a new solution to detecting misinformation in podcasting. The NewsGuard-Barometer offering will be able to detect misinformation during an episode in seconds and advise companies whether or not to advertise with a show. More: - It will integrate Barometer's powerful AI data identification algorithms with NewsGuard's Misinformation Fingerprints to help users act on misinformation in podcast episodes as quickly as possible.
- This will scale the impact of the data that NewsGuard's team of journalists mines daily by adding AI to scan millions of podcast minutes.
- Prior to release, specific uses of the solution have included monitoring podcast media buys or ones up for consideration for potential misinformation, enforcing brand integrity, and more.
Zoom Out: - Newsguard separately announced that it would launch a new product, Podcast Reliability Ratings, allowing advertisers to identify safe podcasts.
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| 5 | | Connie Walker and the staff of Gimlet Media were awarded the 2023 Pulitzer Prize in Journalism in the Audio Reporting category for the podcast series Stolen: Surviving St. Michael's. This was the second season of Stolen, and it focused on abuse at an Indigenous residential school in Canada with direct ties to Walker's family. More: - Walker's months-long investigation into St. Michael's Residential School exposed more than 200 allegations of sexual abuse against priests, nuns, and staff.
- Walker dug into her father's troubled past and found the abuse extended to other members of her extended family.
- The season's seven episodes blended a personal search by Walker with investigative reporting about the abuse of hundreds of Indigenous children at St. Michael's.
- The show earned numerous awards prior to winning the Pulitzer Prize, including the Alfred I. duPont-Columbia Award, an American Society of Magazine Editors (Ellie), and an honorable mention for the Dart Awards for Excellence in Coverage of Trauma.
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| 6 | | YouTube podcast numbers for some of the biggest podcast networks in the U.S. are meager, as users are likelier to listen on other streaming platforms. YouTube made a determined effort over the past year to bring podcasts to its platform, but the numbers haven't been there yet. More: - NPR, Slate, and The New York Times have all joined YouTube in the past year, posting podcast episodes on the platform each week.
- NPR and The New York Times are numbers three and four, respectively, on Podtrac's top publisher ranking. Slate doesn't participate in the tracking of downloads but accumulated 190 million downloads in 2022.
- Last week, Slate's YouTube shows averaged 75 views per video, and NPR averaged 179.
- Because of The Daily, The New York Times was higher but still only averaged around 1,000 views per video.
- Speculation is that the lack of video to go with the audio is causing most users to just listen on other platforms.
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- The Tribeca Festival announced its 2023 podcast and audio lineup, with live events that include the launch of the Will and Grace rewatch podcast hosted by Sean Hayes and Eric McCormack.
- Last week, Sony Music Entertainment laid off members of its narrative podcast team and podcast marketing and sales staff.
- According to a report by PwC India and the Indian Music Industry, the podcast industry in India is projected to grow at a compound annual growth rate of 34.5% from 2018 to 2023.
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 | Freelance Editor | | Christopher Hachey is a freelance writer and editor based in the New York City area. He has spent most of the past 15 years in newsrooms covering all kinds of topics like sports, tech, business, finance, and commerce. He's now returning to his broadcast journalism roots by diving into podcasting news. Reach out to him at chris@inside.com | | This newsletter was edited by Aaron Crutchfield | |
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