In a survey published by Pew Internet & American Life in July 2005, a mere 13% of respondents were confident of the meaning of the word "podcasting."
What do you think the percentage would be today?
"The audience for podcasts has shown meteoric growth, particularly in the US," says Mike Chapman, eMarketer Editorial Director and author of the new Podcasting: Who's Tuning In? report. "It is variously projected to reach between 20 million and 80 million by 2010."
According to Mr. Chapman, the active audience is much smaller but it is still set to grow rapidly
In light of the skyrocketing audience figures — along with the audience's attractive demographics — advertiser are hot on the phenomenon's heels.
Advertising on podcasts, which are invariably free to the end user, is in its infancy to put it mildly," says Mr. Chapman. "However, the nature of the audience and strong growth in its numbers have already driven major brands to invest in podcast-based promotion. More advertising and sponsorship will inevitably follow, as evidenced by the sprouting up of several companies dedicated to facilitating podcast advertising and measuring its effectiveness."
In their pursuit of venues that deliver a measurable, targeted audience, online advertisers and marketers are paying serious attention to this new "anywhere, anytime" channel.
eMarketer projects podcasting advertising to reach $80 million this year and $300 million by 2010.
"With the introduction in late 2005 of an iPod with a high quality color screen, and the memory and processing power to support video playback, video podcasts or 'videocasts' are now becoming commonplace," says Mr. Chapman. "The appeal of moving images to both consumers and advertisers and the continued evolution of devices like the video iPod mean that videocasts will become the predominant format within the next five years. This, in turn, will support further audience growth."
Keep up with the latest online / offline phenomenon as it evolves, plug into the new Podcasting: Who's Tuning In? report today.