How are advertisers using podcasting to help them succeed?
James Cridland hosted a discussion with Richard Phelps from AllInMedia, Fayad Tohme, Chief Digital Officer at NOVA Entertainment and Sam Moles from Whooshkaa at PodcastDay24.
Fayad predicts that future podcast revenue growth will come through specially produced content.
“Catch-up radio has been big, but building podcasts with advertisers in mind is where our growth will come from. We are looking at market growth and what types of companies will be interested in reaching their customers through audio.”
Nova does produce a small amount of branded content for specific clients, but the company’s main focus is on “the best story telling possible, not necessarily producing content for specific brands.”
Whooshkaa does produce Branded Podcasts, for example one for Mercedes Benz, but Sam Moles says any branded podcast must be focused on the audience first, not the brand commissioning it.
“If you’re a brand doing a branded podcast be sure you know who you are making it for. Is it just for yourself or it is for a specific audience who have a real interest in it?”
What’s the benefit of dynamic ads?
Dynamic ad insertion allows podcast producers to monestise every podcast as much as possible. If you’re an advertiser you can use dynamic ad insertion to geo-target and personalise more effectively than baked-in ads.
AIM’s Richard Phelps spoke about the benefits in owning your own app.
“You can get loads of insights that you can’t get from aggregate providers. Controlling your own app gives you the chance to control and get a lot more back from your app… in the three key areas of audio now: podcasts, radio and music.
“The information you can get also informs strategy… you can test if the audience is interested in something, you can augment features with more control than through an aggregator platform.”
Host James Cridland made the observation that many podcast apps can’t spell. “You have LiSTNR, Rova, and others… there’s a common trend.”
Unlike SCA with LiSTNR or iHeartRadio, Nova does not intend to restrict its podcasts exclusively to its own platforms but will make our content discoverable on all platforms including our branded apps.
“It’s hard to predict the future but we hope platforms will continue to be open,” said Tohme. “Nova’s main revenue is from advertising. We see more value for our advertisers in that… Revenue is definitely growing but it’s not doubling year on year.”
Richard Phelps says podcast trends are always evolving. “As an industry we are lucky to have audio as a medium that is trusted and connects with the listeners… Today will not be the same as tomorrow.”
Related Reports: Podcasting is an Exciting industry: Richard Palmer at #PodcastDay24