The news: Podcast ads are the most effective way to drive action through advertising across media types, per a new study from Sounds Profitable and Signal Hill Insights. 22% of monthly podcastlisteners have made an immediate purchase after hearing an ad on a podcast in the past six months, per the study. Podcasts outperformed users of premium TV streaming services like Peacock and Netflix (13%), Instagram (13%), YouTube (12%), and TikTok (5%). Our take: As audiences shift to digital, podcasts demand advertiser investment. Brands that pay attention to the format and take steps to innovate will succeed long-term.
The news: Spotify is expanding its automated podcast buying capabilities, giving advertisers the opportunity to reach podcastlisteners through two automated buying channels. Spotify Ads Manager is evolving to give advertisers in several regions 鈥渄irect access to premium podcast inventory,鈥� including content from original and licensed podcasts.. Our take: The updates could enable Spotify to increase its share of ad dollars, attracting advertisers looking for more opportunities to reach engaged audiences representing key demographics. But to continue attracting spending, Spotify will need to shift some focus to drawing in more listeners to keep its podcast offerings attractive.