The Download for August 1st, 2023

This is The Download from Sounds Profitable, your daily source for the essential news of the business of podcasting, brought to you by Spreaker from iHeart. Here’s what you need to know for today, Tuesday August 1st. AdAge - Audio Ads Outperform Video for Attention and Brand Recall, Dentsu Study Finds. The study was conducted by Lumen and commissioned by Dentsu, with Amazon Ads, Cumulus Media, iHeartMedia, Spotify, and SXM Media participating. 41% of audio ads generated correct brand recall in follow-up surveys, a 3% increase over the norm for other forms of advertising Dentsu keeps track of. Compared to digital, social, and TV benchmarks, podcasts held listeners’ attention for more seconds per thousand impressions.Inside Audio Marketing - Podcast Listeners Spending More Time With Medium As Digital Audio Usage Rises.New eMarketer graphs show daily time spent with podcasts by adult podcast listeners has increased from 44 minutes in 2021 to 51 minutes this year. eMarketer’s forecast predicts that number will grow at slower percentage rates in coming years, but will still hit 56 minutes by 2025. The overall average daily digital audio consumption is one hour and 52 minutes. LibSyn - Podcast Advertising RatesAdvertiseCast has updated their monthly tracker of podcast CPM rates. July’s average between all three tracked audience sizes is $22.24 for a 60 second spot, a 3.6% decrease from June and continuing a downward trend since May’s price of $23.50. Still, it’s holding above the lowest point from the doldrums of Q1 when February’s average hit $21.99.Digiday - Fortune cookies, the Sphere and more: How advertisers are taking OOH beyond billboardsOut of home advertising is evolving, including digital taxi toppers, ad-supported fortune cookie messages, and the $2.3 billion Sphere in Las Vegas. Some agencies have leaned into intentionally outlandish/evocative OOH campaigns to generate online buzz and have found success. Podcasting has had some success with similar OOH campaigns, including billboards for Slow Burn’s season on an abortion rights case that specifically run in states proposing abortion rights rollbacks. eMarketer - YouTube CTV spending jumped 31% last quarter, outpacing streamersAccording to agency Tinuiti, spending on YouTube’s connected TV ads jumped 31% in Q1 while services like Max and Netflix only experienced 6% growth. Hulu charts in the lead on CTV ad revenue on eMarketer’s 2023 chart with 3.63 billion, followed by YouTube at 2.89 billion and Roku at 2.19 billion. The fastest-growing CTV presence is now also the most popular location for audiences to consume podcasts.
Be sure to check out the links to every article mentioned right in your podcast listening app, or at SoundsProfitable.com, where you can also subscribe to the newsletter version.The Download is written and produced by Bryan Barletta, Gavin Gaddis, and Tom Webster. It’s assembled in Spooler and hosted on Art19. For Sounds Profitable, I’m Tom Webster - Download us again tomorrow!