The way to get to Broadway may be to practice, according to the old joke, but the way to get to $1 billion is to sell – and for podcasters that task keeps getting a little easier as ad buyers keep warming to the medium. A new Advertiser Perceptions survey finds 69% of media agencies and brands have discussed podcast advertising for a potential media investment. 49% are considering advertising and 42% say they are currently advertising in podcasts.
“Advertiser interest in podcasting is higher than ever,” says Cumulus/Westwood One Chief Insights Officer Pierre Bouvard. He says in a blog post that the survey shows agency and advertiser interest is significant at every stage of the podcast ad purchase funnel.
The survey – commissioned by Cumulus Media and Westwood One – is most illustrative of the change in podcast consideration. Bouvard says that while 42% are planning to buy podcast ads in the coming six months that compares to only 10% of brands and media agencies that said the same in 2015. And podcast advertising consideration has soared from 18% in 2015 to 49% this year. Bouvard also points out that while discussion of podcast use has increased, actual usage of the medium by ad buyers has grown at an even fast pace.
Advertiser Perception’s survey is based on the responses of 300 ad agency buys and advertisers.