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| 1 | | Acast released a research study that looked at podcast advertising effectiveness in the U.S. and found that the investment in advertising is paying off for many marketers. The study shows that 67% of marketers see a $2-$6 return on every dollar spent on podcasting. More: - 20% of advertisers claim a higher than $6 return on marketing.
- 68% of marketers said they had higher budgets for their second podcast advertisement campaigns.
- 51% said that investing in larger podcasts delivers the best return, but 90% of listeners of small-size shows were more receptive to ads.
- 19% of listeners of small-size shows said ads were very influential to them.
- "When specifically measuring return on ad spend, a high performance in the Business category isn't really surprising because we know those audiences tend to be more affluent," said Gabriella Gregoris, Group Business Director of National Performance at Acast.
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| 2 | | What the numbers say: Black podcast listeners are more likely to be interested in shows that highlight Black stories and perspectives. 60% of respondents of the Black Podcast Listener Report 2021 said it is important for the shows to include Black perspectives, while 62% want to hear shows where the hosts look and sound like them. 70% of Black monthly podcast listeners want to hear unique perspectives on topics not covered in other media. 51% care that the show is hosted by Black hosts. Relevance: Hayti, a Black-owned news aggregation app that highlights content solely from Black publishers, is now the largest source for podcasts that have Black hosts. The platform has expanded to offer access to over 2,000 podcasters. Initially, Hayti only aggregated print and on-air news. Hayti's newly added podcast section makes it easier for listeners to find, save, and listen to Black-hosted podcasts. More: It is the largest Black-owned app to deliver articles, videos, and podcasts and is the first mobile app to feature over 200 Black publishers on both Android and iOS. "A majority of our community already surfs social media apps to keep up with the Black news cycle. Creating a news aggregation app from credible Black publishers and outlets allows our community to connect with culturally relevant, fact-checked information and stop the spread of misinformation on social media," said Hayti CEO Cary Wheelous. | | |
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| 3 | | Podcast advertising could be a $45B opportunity for marketers, says Luma, an investment bank. Luma released figures comparing the time spent with digital audio versus the amount of ad money spent, and the numbers are staggeringly different compared to that spent on digital video. More: - Luma found that time spent with digital audio for U.S. listeners was around 20%, while the ad spend was only 3%. Digital video has results of 37% of time spent for Americans and an ad spend of 32%.
- "We're now in this world where we're shifting from third-party data to first-party data platforms. And these are some very large first-party data platforms who control this ecosystem. So there is a lot of opportunity there," Luma partner Conor McKenna said.
- The growth of the creator economy is set to help the audio landscape, as social media platforms like TikTok and Instagram have aided marketing spends.
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| 4 | | Podimo, the Copenhagen-based podcast and audiobook subscription service, announced two new hires on its expanding team in Spain. Isabel Salazar is joining the company as Country Manager in Spain, and former Country Manager Juan Galiardo Sosa will become Podimo's Global Head of Markets. More: - Podimo is the fastest-growing European podcast and audiobook subscription service and has made a push to expand in recent years.
- More than 120 shows premiered in the Spanish market a year ago, and the consumption of hours has multiplied seven times in that span.
- Galiardo's position is unique to Podimo, as it will be localized despite the role overseeing global accounts.
Zoom Out: - Podimo debuted in Copenhagen in 2019 and then in Spain a year later.
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| 5 | | Comedian Bobby Lee, the co-host of the podcast TigerBelly, is suing Wondery for breach of contract after the audio company ended a 39-month deal early. Lee, who co-hosts the show with Khalyla Kuhn, claims that Wondery was "under pressure to cut expenses and roll back its financial commitments" leading to the termination of the show in early April. More: - The deal that TigerBelly and Wondery had in place was in exchange for "multimillion-dollar financial guarantees that reflected the widespread success and popularity of [the podcast]."
- Wondery claimed that Lee broke a "morals clause" in its termination letter in April. It cited a story that Lee told in 2013 about paying for "a young-looking sex worker who had tears in her eyes" in Tijuana while a guest on other podcasts.
- Lee has since apologized for this story and claims that he made it up by combining two bits of his act.
- TigerBelly claims that it never entered into a morals clause with Wondery and that Wondery would have known about the story prior to entering into an agreement with the show.
Zoom Out: - TigerBelly has been self-publishing its podcast since April and just celebrated its 400th episode.
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| 6 | | Ballen Studios and Wondery have announced a new podcast hosted by MrBallen titled MrBallen's Medical Mysteries. It is the first original co-produced series by Ballen Studios and the Wondery first-look partnership with Amazon Music. More: - MrBallen's Medical Mysteries will debut on Amazon Music and Wondery+ in the fall prior to landing on other major podcast platforms.
- The show will examine medical mysteries from around the world that have confused doctors.
- MrBallen, a.k.a John B. Allen, is the host of the popular true-crime podcast series MrBallen Podcast: Strange, Dark & Mysterious Stories, which is available exclusively on Amazon Music.
- "I'm excited to expand into the world of medicine and dive into these unexplained mysteries," said Allen. "MrBallen's Medical Mysteries is the most logical next step in continuing on our collaboration with Amazon Music and Wondery, to further our brand with new storylines and topics, and still keeping to the MrBallen storytelling style."
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- Edison Research released its Top U.S. Podcast Networks list based on reach, with Spotify landing in the top spot.
- Podcast studio Canadaland inked a multi-year first-look deal with Entertainment One (eOne).
- Audio Up, a podcast studio, has inked a deal with Z2 Comics to release a dual graphic novel/podcast project.
- AI investments: Harness the power of a technology expected to add $15.7T to the global economy by 2030.*
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Term of the Day Gross domestic product: Gross domestic product (GDP) is a measure of the total value of goods and services produced within a country’s borders in a given year. Read More Question of the Week Should companies take steps to avoid employee burnout, or should it be the individual's responsibility to manage it themselves? Join the conversation |
INSIDE PODCASTING LEADERBOARD (30 DAYS) 🥇 Ethan Lee (14) 🥈 Mijon Zulu (10) 🥉 Christopher Hines (5) |
| | Christopher Hachey Freelance Editor | | Christopher Hachey is a freelance writer and editor based in the New York City area. He has spent most of the past 15 years in newsrooms covering all kinds of topics like sports, tech, business, finance, and commerce. He's now returning to his broadcast journalism roots by diving into podcasting news. Reach out to him at [email protected] | | This newsletter was edited by Aaron Crutchfield |
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