Current podcast listeners tend to be devoted, and tune in to their programs regularly. Naturally, advertisers want this type of loyalty too, along with some action. Yet according to August research, only 8% of US podcast listeners said they had bought a product or service after hearing an ad in a podcast.
The Interactive Advertising Bureau (IAB) and Edison Research found that a mere 8% of respondents said after hearing an ad or sponsorship message in a podcast, they had purchased the item or service. Instead, more of the podcast listeners polled said they visited a brand’s website (45%), considered the product (42%) or collected more information (37%) following the ad—still promising responses for a podcast sponsor, even if they aren’t as good as a conversion.
While most internet users in the US are aware of podcasts, many have not listened to them in the past several months—or at all. However, those who have recently tuned in listen often: Approximately 85% tune in at least once a month, according to research from Wondery and comScore.
On the advertising side, overall spend on the channel is reportedly on the rise. US podcast ad spending will reach $167 million in 2016, according to Bridge Ratings. The increase in spend has been slowing since last year, however. The media analysis company anticipates spend to nearly double to $395 million by 2020.