- Brands that want to strengthen their relationship with their customers are discovering the medium of podcasts.
- Podcasts have proven effective for targeting audiences, engaging their attention, and converting customers.
- Purchase intent rises significantly for podcast listeners as it captures their attention even when TV, radio, or digital ads fail to.
The term “podcast” was not something you would have associated with marketing a decade ago. But that has changed drastically as podcasts have been steadily rising in popularity.
The number of podcast listeners in the United State rose from a mere 32 million in 2013 to a projected 120 million for this year, Statista reported. It derived a compound annual growth rate of 17% that anticipates an audience of 164 million for podcasts in 2023.’
Podcast ad revenue has also risen tremendously, more than tripling over the space of just four years. According to Music Oomph!, Podcast ad revenue in 2017 was $317 million, but it is expected to hit $1.13 billion this year and to rise to $1.33 billion next year.
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