We know about Relationship Marketing We are experts in loyalty and incentives · We like to create unique experiences Master in Digital Marketing Management – UPF-BSM Acquire specialized knowledge to manage the digital marketing of your organization. Among the formats that appeared practically parallel to the birth of the network, were podcasts. Niger Email List Their existence is therefore very old and dates back to the beginnings of the internet, although their success and their pull among the audience have not accompanied them from that first moment.
Then, podcasts became a failure, because the technology did not accompany. Not only was the content complex and expensive to produce, but the network connection speeds and device capabilities did not make things easy for those who had to listen to them. The podcast boom, at least in audience and success, came in the middle of this last decade. Mobile devices made it easier to take the podcast with you, while better browsing speeds simplified access to content. To all this we must add that launching podcasts was also much easier and cheaper for content producers. Now, getting a mic of a certain quality and releasing the content to the world is within the reach of many people. The success of Serial , the American true crime podcast, served to spur the market. Podcasts therefore have audiences and content, but until now they were failing on the monetization side. Although podcast CPM prices were initially very high and above the digital market average, the podcast market was not generating as much money as it might seem. Everything was too dynamited. In recent times, however, some network giants have entered the market and that could change things.
Millionaire purchases at once Spotify has been going strong in the podcast world in recent months, and that could be the starting point for the market shift toward greater monetization. Spotify has, in fact, just closed a millionaire deal like Omnicom: the agency will spend $ 20 million on podcast advertising throughout the second half of this year on Spotify. As explained in The Wall Street Journal , before iHeartMedia had been trying to sell its advertising like this and it has been succeeding. This represents a change in the marketing model for podcast advertising. Until now, brands have bought ad space on podcasts that specifically interested them. This made the market grow, yes, but still do so with low figures. With this new route, listeners are bought more than brands and, above all, much higher amounts of money are moved. Catherine Sullivan, Omnicon’s North America chief investment officer, acknowledges that this is “a great deal compared to what we’ve done in the past.” A change in the model? And, we must not forget, it could be the way to skip the brakes that until now made the market not grow as much as it could. Although listeners were growing, the industry was too fragmented, both in terms of platforms, programs and measurement methods, not to be too chaotic. With the agreement between Omnicom and Spotify, for example, the agency’s advertisers will have priority access to blocks of thematic content but also access to research and the best possible practices in segmentation or measurement. And, as they add from Warc, the coronavirus crisis has paid off for the podcast industry. Before the crisis, the market was expected to double in value between 2019 and 2022. In 2019, the podcast advertising market moved $ 885 million worldwide. In 2022, it was expected to reach 1,621.1. Changes in listening habits during the crisis and in the post-crisis, they point out in Warc, will possibly make those numbers grow.