The Interactive Advertising Bureau released its first Podcast Playbook, an overview of the podcast environment for marketers filled with stats and thoughts on the future of podcasts written by a group of experts in the field.
Not surprisingly, the playbook reported that podcast listenership continues to grow exponentially, with a quarter of the US population 12+ listening to podcasts on a monthly basis. This massive growth has led to massive increases in revenue with a predicted amount of $220 million in revenue for 2017, an 85% increase over last year.
A few other key findings from in the playbook:
- People typically listen to podcasts while commuting, at work, doing chores at home, exercising, or traveling.
- 50% of podcasts listeners spend 5+ hours listening each week.
- Podcast listeners skew slightly male (56%), are 18-34 years old (44%), and have a full-time job (80%).
- 85% of listening happens on a mobile device with 61% of listening happening on an Apple platform.
- In June of 2017, Apple announced that it will start offering publishers more reporting metrics like completion rates and skips.
- A study conducted my MidRoll showed that 67% of listeners could name a product feature or specific promotion mentioned in a podcast ad.
What does all of this mean for the future of podcasts? Look for new consumption habits as voice activated devices become more popular, more targeting capabilities for advertisements as listener numbers increase, improved reporting metrics and different advertising formats for brands to utilize.
Get the full report here.