Study Finds YouTube Podcast Impressions Underperform Audio For Advertisers.

Oxford Road and Podscribe are challenging one of podcasting’s fastest-growing assumptions with a new study that finds video podcast ads significantly underperform audio when it comes to driving conversions. Their newly released analysis finds that YouTube podcast impressions are 18% to 25% less effective than audio podcast downloads at driving purchases. The firms estimate that at current buying assumptions, brands spending heavily on YouTube podcast inventory could be giving up as much as $250,000 in conversion value for every $1 million in spend.

“There’s no doubt that YouTube podcasts offer a lot of value for advertisers. Simulcasts can bring scale, reach new audiences, offer supplemental exposure, deliver different kinds of product messaging and integrations, and more,” the report says. “However, this analysis shows at least that video content should not be assumed to be better and underscores the importance of being mindful about biases in media planning and growth imperatives.”

The analysis pulls from more than 1,000 campaigns across over 100 brands, using promo-code redemptions and post-purchase “How-Did-You-Hear-About-Us?” surveys to compare performance across audio RSS downloads and YouTube podcast views. Across both datasets, the results pointed in the same direction, showing that as YouTube’s share of impressions increased, conversion performance declined for most advertisers.

One of the study’s central arguments is that the market has moved too quickly to treat YouTube views and podcast downloads as interchangeable impressions. Oxford Road and Podscribe say that assumption is now embedded in planning tools, attribution models, and CPM negotiations, despite major differences in audience behavior, measurement standards, and response patterns between the two environments.

Using campaign-level splits where the mix of audio and YouTube delivery varied widely, the study found that 78% of brands showed declining promo-code response rates as YouTube’s share of impressions increased, with regression modeling estimating YouTube views to be roughly 25% less effective than audio downloads. A separate survey-based analysis produced a similar outcome, estimating YouTube impressions to be 18% less efficient at driving post-purchase attribution.

The report argues the performance gap reflects fundamental differences in audience behavior, not just measurement quirks. Podcast listening is described as an intentional, lean-in activity, while YouTube viewing is often driven by algorithmic discovery, leading to faster drop-off and weaker attention per impression.

Audio audiences are also more conditioned to respond. Long-time podcast listeners tend to be repeat, loyal consumers with established trust in hosts and years of exposure to promo-code calls-to-action, while YouTube viewers are less accustomed to acting on spoken codes or survey prompts.

The study further points to structural issues that may dilute YouTube performance, including a more international audience mix that can reduce relevance for U.S. advertisers and view-counting mechanics that allow multiple views per day, unlike podcast downloads, which are capped at one per listener per 24 hours. Together, those factors may overstate effective exposure on YouTube relative to audio.

With all the momentum around video podcasting, Oxford Road and Podscribe say their report is the first in the market to attempt to measure the relative strengths and weaknesses of pure audio vs. YouTube simulcast podcasts. It suggests further analysis is needed. In the meantime, it recommends that brands approach simulcasts “mindfully” in light of the initial findings.

The white paper includes a 10-step action plan that urges advertisers to segment audio and YouTube impressions in reporting, adjust CPMs to reflect performance differences, use separate tracking for YouTube placements, and lean into video-specific formats — such as on-screen calls-to-action — rather than assuming video delivers automatic performance lift.

“The shift to video in podcasting has unlocked new audiences for creators and an attractive-looking scale opportunity for marketers,” says Oxford Road CEO Dan Granger. He says the goal is not to diminish video’s role in podcasting, but to recalibrate how it’s valued. “We’re hoping to not only underscore audio’s unique staying power, but how video can bring greater value,” he adds.

Download the “Re-Thinking YouTube” report HERE.