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Why Sports Podcasts Could Be a Slam Dunk for Advertisers... & 6 Other Stories
Episode 35
This week: Why sports podcasts are a slam dunk for podcast advertisers, our quarterly earnings roundup, how the buy-side of advertising defines ‘premium’ content, how podcast advertisers are embracing Latino podcasting, and Netflix launches their ad-supported tier. Why sports podcasts could be a slam dunk for advertisers who know how to navigate the in-demand space Shreya: There’s no denying the synergy of sports and advertisers during regular game seasons, but a new article from MarketingBrew’s Alyssa Meyers highlights how podcasts can easily fill that gap the rest of the year. “The sports podcast genre is among the top five most popular in the US, according to Edison Research, and the percentage share of ad revenue for that category more than doubled from 2020 to 2021, according to the Interactive Advertising Bureau.” Several of Meyers’ sources stress that sports is one of the most in-demand podcast genres for ad buyers. Steven Abraham, president of the Oxford Road, said the agency’s biggest clients are interested in the space due to its reach with an active and engaged audience. “A good sports-podcast media plan includes both, according to Abraham. Major shows that cover entire leagues or sports news in general can provide the benefit of reach, but fan-led shows that focus on specific teams tend to be more targeted and affordable, he said.” Regardless of a show’s popularity, the CPM of a sports podcast has the benefit of flexibility even in the off season. Locked On Podcast Network CEO David Locke reports listenership spikes more during off-season times like trade deadlines than during important games during the normal season. Traditional media has spent decades refining their infrastructure around courting sports fans when players are on the court. Podcasting has the flexibility and staying power to capitalize on sports fandom’s dedication for their favorite pastime and make sporting content a perennial avenue for advertisers. Podcasting Companies Post Q3 Earnings Manuela: It’s time for what’s becoming a quarterly event here on The Download: quarterly earnings reports are here! Most of what we’re reporting on today has been released in the past week, but in the interest of gathering everyone together, we’ll open with Spotify. As we covered back in October, Spotify shares dipped after their earnings call, in which CEO David Ek announced price increases coming in 2023. In good news for Big Green: they report 456 million monthly active users, up 20% year over year, 195 million of which are paying subscribers, representing a 13% year over year jump. iHeartMedia is up 7% year over year on revenue, with a Q3 total of $989 million. Their Digital Audio Group revenue hit a 23% year over year increase, with podcast revenue hitting $91 million dollars. On Wednesday Veritone posted their Q3 financial report. $37.2 million in revenue with 64% year over year growth. Audacy’s financial report shows total revenue down 3.8% year on year. Their Digital revenue, including podcasting, made $62 mil
Published on 2 years, 6 months ago