An understandable trend
Believe it or not, one of the big media trends in 2021 is “free-screen media” or the obsolescence of the need to be glued to your screen.
Thanks to this, audio received an unexpected boost during this pandemic. Even video giant YouTube just announced that audio-only advertising would become an option for marketers to target people who use the site to listen to, but not watch, content. For 2022, we are already expecting a significant increase in audio advertising as brands and platforms realize its true power and value.
Below we offer a guide to understanding the different audio advertising channels, the benefits of incorporating this ad format into your strategy, and how you can start using it. Let's take a closer look at this trend!
As advertisers, you need to reach your audience where they are and traditional ads are no longer the only option.
The podcast is reborn...17 years later
Whether it's Spotify, Youtube Music, Apple Music, Soundcloud, Amazon Music or Pandora, everyone has found their favorite music and podcast streaming service. Although preferences differ from consumer to consumer, there is one thing that all of these choices have in common: streaming audio is a big favorite. In the first half of 2018, around 30 million people in Europe paid for Spotify's service compared to 62 million consumers towards the end of 2020, or double. Add to that 59 million people using ad-supported versions of the platform, and the proof is there: music and podcast streaming dominates the audio industry and it's not going away anytime soon.
That said, you should know that Spotify has spent hundreds of millions of dollars to develop its podcast business, proving that consumers want to listen to more than just music. Also, the fact that Spotify is starting to insert ads into shows means that they are important, both for revenue and retention.
The growing interest in the medium is also reflected in the global number of podcast listeners, which reached a new high in 2020 with 485 million consumers worldwide. While this figure already demonstrates the expansion of the podcast market, it is estimated that it is expected to increase further to reach more than 800 million users in 2025.
In Switzerland, there are at least 1500 local podcasts, of which approximately 500 were created in 2020.
Are you interested?
Want to produce your own audio commercial but don't know how to go about it?
Benefits of podcasts
- + of Trust – Podcast listeners often trust the podcast host and their recommendations.
- + Commitment - Beyond its ratings, the podcast generates enormous engagement. This makes it a valuable medium for advertisers because of its active listeners.
- + Conversion – Due to high user engagement and trust, studies show that compared to other media, podcast advertising drives purchases more.
Additionally, it is possible to reach niche audiences in highly relevant contexts, and there are a large number of niche podcasts to choose from, ranging from entertainment, beauty and motherhood to business, entrepreneurship, commerce and even various industrial podcasts.
For example, podcasts can give B2B advertisers the opportunity to capture the attention of decision-makers in a context where they are actually ready to listen.
However, one of the main challenges with podcasts is that it is difficult to measure impact and ROI, much like in the early days of influencer marketing.
The podcast as branded content
Brands are no strangers to podcasts. Often, the involvement is limited to the sponsorship of the podcast by the brand, so you will hear one or more advertisements from it during the show. But they are now also starting to produce their own podcasts. These allow for longer-form content that can bring consumers closer to brands.
And the distribution giant Sephora has understood this well. When it launched a line of lipsticks under the Sephora Collection brand, called #Lipstories (the hashtag is part of the brand name), it was accompanied by a multi-channel campaign to promote the line. One part of this campaign is a new podcast of the same name. The #LIPSTORIES podcast tells real “everyday life stories” of “female founders, creators and thought leaders”. Already in its infancy, with 6 episodes of around 20 minutes, #LIPSTORIES had already obtained 5 stars on iTunes
Let's not forget the radio!
Radio is another medium that is beginning to transform with digitalization, allowing the creation of niche stations and therefore niche advertising opportunities. In Sweden for example, it is interesting to note that many of the most popular podcasts originate from radio stations but are distributed both through a Swedish mobile app and streaming platforms like Spotify. It is a sign that the content of the radio stations is still very relevant, just in a different format. Indeed, more and more people are listening to the radio on the net every week, which is still less than traditional radio, but the latter is declining while digital is increasing. While some may think radio is dying, we think it depends on its ability to adapt to the digital landscape. Moreover, the market
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