Growing Podcast Advertisers: Q4 2022 - Winmo
Podcast advertising is a rapidly growing and highly effective medium for boosting brand awareness and sales, with increasing ad spend projected to exceed $2 billion by 2023, and brands like cbdMD, PrettyLitter, and ClickUp investing significantly in podcast sponsorships to leverage its strong influence on consumer purchase behavior.
Podcast advertising is highly effective, significantly boosting brand awareness, affinity, and purchase intent. According to Ad Results Media, 50% of podcast listeners who listen for at least 5 hours per week say podcast advertising is the best way for a brand to reach them. Additionally, 74% have visited a company or product’s website after hearing an ad, and 65% have purchased a product or service as a result.
A common misconception is that podcast ad inventory is limited and difficult to scale. However, the rapid growth of the podcast listener base and the increasing number of shows have changed this landscape. Ad spend on podcasts is projected to exceed $2 billion by 2023, with sales professionals eager to capitalize on this opportunity. Through partnerships, such as Winmo's with Podchaser, users can identify brands investing in podcasts, the shows they sponsor, and the decision-makers controlling these budgets.
The podcast medium is especially valuable for emerging and D2C brands, providing a platform to build relationships as their budgets grow. According to AdvertiseCast, a survey of 300,000 listeners found that 63% of people bought something a host had promoted on their show. This demonstrates the medium's strong influence and growth potential.
Five Brands Growing Their Podcast Advertising Strategy (Annual Spend: $100k–$500k)
- 1.
cbdMD
- Description: Premium quality and innovative CBD products, tested through independent, third-party labs.
- Company type: Public
- 2021 Estimated Media Spend: $911,000
- 2.
PrettyLitter
- Description: Lightweight cat litter that monitors feline health by changing color based on urine abnormalities. Also offers premium, high-protein, grain-free cat food.
- Company type: Private
- Total estimated podcast spend: $155,183
- 3.
ClickUp
- Description: All-in-one productivity app offering docs, reminders, goals, calendars, and more. Used by teams at companies like Google, Airbnb, Uber, and Nike.
- Company type: Private
- Total estimated podcast spend: $302,665
- 4.
Magic Spoon
- Description: High-protein, low-carb cereal designed for adults who want a nostalgic, healthy breakfast option.
- Company type: Private
- Total estimated podcast spend: $330,495
- 5.
ButcherBox
- Description: Delivers high-quality meats, including grass-fed beef, organic chicken, humanely raised pork, and wild-caught seafood, directly to consumers.
- Company type: Private
- Total estimated podcast spend: $230,476
Business Benefits of Podcast Advertising Insights
- Discover which brands are investing in podcast advertising
- See the top podcast advertisers/sponsors by specific vertical or category
- Uncover where competitors are investing and how much they are spending
- View industry trends and act on timely opportunities
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