Power of Podcasting – Event Summary
On 23rd April AudioUK hosted our first “Power of Podcasting” event in association with Universal Production Music and Meera Kumar.
The event brought together brands and agencies with the production houses and networks behind the UK’s most successful podcasts to explore the growing podcast landscape and its advertising potential in the UK market.
Opportunities for advertisers in podcasting
Chloe Straw, CEO of AudioUK kicked off the discussion by highlighting the significantly higher ad spend in the US podcast market at $2.38 billion compared with approximately £83 million in the UK. Even when adjusting for the difference in population, US advertisers still spend far more at $7 per person as opposed to $1.60 in the UK demonstrating the potential for advertisers to claim this space before others enter the market. Chloe also showed that podcast advertising provides a much higher return on ad spend (4.9) than other forms of media (3.7).
Why advertise to podcast listeners?
Gabriel Soto, Director of Research at Edison Research provided an overview of the make up of the podcast listenership in the UK. The data shows that 69% of the UK population has listened to a podcast, with 42% tuning in monthly and 30% listening in the last week. The research also shows that podcast listeners are a highly desirable audience – they are more likely to be employed, university-educated, and more affluent than non-listeners.
The reality of cross-platform partnerships
Josh Akers, Head of Commercial Operations and Charlotte Robbins, Group Business Director from Goalhanger used a case study to demonstrate how podcast advertising can reach further than the usual audio placements. Their partnership with Bulldog Skincare during “Dry January” featured various touchpoints throughout the campaign including host reads, in-show segments, newsletter features and social media content as part of an integrated approach. This multi-faceted approach delivered impressive engagement stats and also drove measurable brand awareness and sales growth.
Demystifying data in podcasting
Martin Bojtos, Co-Founder of Podmasters showcased the rich range of data that can be gleaned from podcast advertising and that it is very quantifiable. Tools such as listener surveys which provide detailed demographic insights as well as tracking options like Spotify Ad Analytics and pixel tracking all mean that companies are easily able to measure the success of their campaigns.
Using sound to tell a story
Tom Billington, Managing Director of Granny Eats Wolf demonstrated how sonic branding and immersive audio experiences can help create deep connections with their audiences and noted that brands with a distinctive sonic identity were favoured more by consumers than ones without.
Branded Podcasts
Ali Griffin, Chief Commercial Officer at Platform Media shared insights on how they help turn brands into publishers through branded content. They referenced their work with William Hill where they created “Upfront”, a sports show that achieved significant success with 26-minute average watch times and appearing in the UK’s top three sports podcasts listings regularly. But Ali also highlighted how the partnership went beyond audio, reflecting the diverse ways the audience want to consume content. So video, merchandise, live events and social media profile were all incorporated into the programme.
Advertising in Audio Drama
The team from Rusty Quill challenged preconceptions about audio drama podcasting. They showcased how their highly engaged and loyal fanbase represents a unique advertising opportunity. Their research showed that 94% of listeners trust podcast hosts as they would a friend, creating exceptional opportunities for authentic brand integration and host-read advertisements.
Brand Safety
Jamie East, Head of Podcasts from DMG Media tackled brand safety concerns in true crime – the genre with the highest reach in podcasting. However, their research demonstrated that only 3% of true crime listeners reported less favorable brand perception after hearing an ad—on a similar level to comedy or sports podcasts. Jamie argued that audiences are sophisticated enough to separate ads from content, emphasizing that “brands want to reach audiences, not content.”
Summary
The showcase clearly illustrated that there is significant opportunity in the UK podcasting market for brands to get in front of receptive and highly engaged audiences. As the podcast industry continues to evolve at a rapid pace, the companies who take advantage of the relatively unsaturated advertising landscape stand to benefit considerably from access to sophisticated and loyal audiences.
The afternoon concluded with a networking reception as well as a raffle draw where two lucky attendees won £5000 each of advertising inventory with Goalhanger.