The Interactive Advertising Bureau (IAB) has released its first IAB Podcast Playbook, a buyer’s guide to podcast advertising that provides insights into audience demographics, listener behaviors, creative treatments, ad formats, delivery, targeting and measurement.
The guide also features research that confirms the increasing popularity of podcasts as nearly 25% of US consumers over the age of 12 listen to podcasts on a monthly basis and, on average, each person subscribes to six podcasts per week.
Not surprisingly, the IAB found smartphones are the primary devices used for listening to podcasts and consumption is frequently on the move – particularly during commutes to and from work – but it noted consumers also frequently listen while doing chores at home, exercising and traveling.
In terms of audience demographics, the IAB found podcast listeners tend to be young – 44% are under 34 – and they are also are educated, wealthy and likely to be business influencers.
Advertisers have a variety of options on podcasts, including native and host-read ads, as well as dynamically inserted, standardized ad units. What’s more, the IAB said two-thirds of listeners cite high brand recall and nearly the same number say podcast ads inspired a purchase.
“Podcasts create an especially intimate space for listeners to engage with content because these listeners have made an active choice to download or stream,” said Harry Clark, co-chair of the IAB group that produced the guide and executive vice president at Market Enginuity, which says it connects marketers with the public media audience.
Recent IAB research forecasted podcast advertising revenue will top $220m in 2017, an 85% increase from $119m in 2016.
“This playbook will serve as a go-to reference guide to help brand marketers understand podcasts and effectively steer more ad dollars toward opportunities that will deliver in terms of audience reach,” said Anna Bager, senior vice president and general manager of mobile and video at the IAB, in a statement. “In an industry where explosive growth and dramatic change have been endemic, podcasts are having a standout moment. We want to educate marketers on the unique and valuable benefits of advertising on the medium.”