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Podcast Ad Spend Isn’t Slowing as a Recession Potentially Looms & 7 Other Stories
Episode 11
This week: Podcast ad spending goes strong despite recession fears, YouTube and Twitter launched dedicated podcast spaces, advertising questions what to do if premium users choose not to see ads, and a look into why DTC ads haven’t fallen off as expected.
Podcast Ad Spend isn’t Slowing as a Recession Potentially Looms. Manuela: Marketing Brew’s Alyssa Meyers brought good news last Wednesday. Things are looking up for the podcast ad spending despite, shall we say, less than ideal economic conditions. Over on the general advertising side of things, it’s a bit bleak. On August 18th Daniel Konstantinovic, writing for Insider Intelligence, covered the worst month of ad spending in two years. “July saw ad spending go through its worst monthly decline since July 2020. Ad spending contracted 12.7% year over year in July, per MediaPost and Standard Media Index’s US Ad Market Tracker.” Several potential causes of this dip are proposed, most of which are interlinked to some degree. Relaxing of pandemic restrictions and the return of larger social gatherings has increased commuting and free time away from screens. Meanwhile, even while the jury’s out on whether we’re technically in a recession, Konstantinovic points out a Brand Keys statistic showing 70% of consumers believe they’re in a recession and thus are cutting back on spending. Perhaps spending wasn’t great in the general advertising space, but podcast ad spending continues to boom regardless. “Some of the biggest audio companies reported growth in podcast ad revenue for Q2 despite a softening ad market, and buyers responsible for major audio budgets told us they’ve yet to see a significant retreat from podcasting, indicating that the sector could continue growing regardless of the state of the economy.” It’s also worth keeping in mind which data we’re looking at and how we’re looking at it, as Magellan AI’s Sean Russo explains: “We took a look through a few different lenses. When you look at year-over-year spend in July in podcasts, we’re seeing a 19% increase. If we look at Q2 YoY we’re seeing a 48% increase. Worth noting that looking at month-over-month June to July we saw a 7% decrease. So, the bottom line on what we’re seeing is that podcast ad spend continues to grow at a healthy clip YoY, though we did see a minor pullback from June to July.” YouTube and Twitter Launch Dedicated Podcast Sections Shreya: It’s time to follow up on two developing stories we’ve covered in recent weeks, as two giant social media platforms have now rolled out sections dedicated to podcasting. Last Thursday Twitter started the rollout of the new dedicated Spaces tab. “Integrating podcasts into Spaces, where audio conversations happen on Twitter, is another way we’re continuing to invest in audio creators. To do this in a simple and intuitive way that allows listeners to simply hit play and go, we started with a redesigned audio experience in the Spaces Tab.” Twitter remains an important space for podcasters to both promote and network. With the addition of podcast functionality that’s native to the app they’ve removed some of the friction between the promotion of a podcast and the potential audience member actually listening. On that same note: last Monday YouTube launched a dedicated page for podcasts, though only for users in the United States. As covered by Sarah Perez in TechCrunch, the url for the new page was discovered ahead of formal announcement. Despite their t
Published on 2 years, 8 months ago