THE RISE OF PODCAST CULTURE
Apple took podcasts and made them mainstream by building it right into iTunes way back in 2005. It had the vision that podcasts would be the next generation radio and that's serving to be true today.
The new at-home lifestyle brought by the onset of COVID- 19 has driven a significant increase in the listeners and programs in the podcasting and audio-streaming space. Thus, Podcast advertising has become a growing marketing channel, with demonstrable returns for brands.
Podcast conversations spark consumer connections that lead to conversions in sales of a product or service. According to Voxnest, an audio technology solutions provider, global podcast consumption increased 42% during the onset of COVID between March and April.
Podcast hosts usually reads all the ads, either during the flow of a show or a pre-recorded segment. Many advertisers prefer the former, as ‘live reads’ allow hosts to improvise unique advertising messages or relate products to the theme of a show. This enables ads to seem like another segment instead of a paid endorsement.
Over the past few years, podcasts have gained steady traction and popularity in the region. More and more podcasters across the region are seeing the value and freedom in the "do it yourself" format that podcasts offer to create original content across categories like news, business, entrepreneurship, culture, comedy and entertainment.
As a growing platform, marketers should include Podcast advertising in their upcoming marketing plans by making advertising more personalized to their set target audience. It also allows the most relevant interest targeting by capping the relevant category Podcast e.g. For B2B they can look at focusing on business, entrepreneur, etc.