2023 IAB Podcast Upfront: Key Takeaways

The Podcast Marketplace Continues to GrowThe program began with a presentation from the IAB on the state of podcasting During this presentation the IAB released its annual report titled quotUS Podcast Advertising Revenue Studyquot which provides total ad revenue for 2022 along with projected ad revenue through 2025In 2022 podcast ad revenue grew by 26 to reach a total of 1825 billion Podcastingamp8217s annual growth percentage of 26 is more than double that of total Internet ad revenue which increased by 11 in the same time period Furthermore it outpaced social media 4 increase paid search 8 display 12 digital video 19 and digital audio 21 in 2022Looking ahead the IAB is projecting a 25 increase in 2023 and for podcasting to surpass 2 billion in annual ad revenue By the end of 2025 the IAB expects ad revenue to reach 398 billion more than double what it was in 2022From a content perspective News was the clear top ad revenue content genre in 2021 representing 19 of all revenue That percentage decreased significantly down to just 12 in 2022 As the United States moved farther away from the presidential election cycle the interest in news content decreased In response listeners gravitated towards more lifestylefocused content Sports increased from 11 in 2021 to 15 in 22 Society ampamp Culture 12 to 14 and Comedy 13 to 14 all saw their share of revenue increase in 2022 In fact Sports is now the No 1 ad revenue category in podcasting when just a year prior it was fourthAI Powered Brand SafetyIn recent years podcasting has addressed many of the industryamp8217s questions It has developed a diverse content slate providing opportunities for a diverse set of voices while following suit with other digital channels in providing traditional targeting parameters including demo geo and behavioral segments Publishers have willingly partnered with thirdparty attribution companies allowing advertisers to see their return on investment in real time As podcasting has grown publishers have been looking to aggregate inventory and sell run of network offerings to advertisers to further maximize revenueThe deterrent from marketers is a lack of control of where ads will run As podcasting is not governed by FCC guidelines like terrestrial radio brand safety has been a major concern If an advertiser runs a targeted ad buy across a network of hundreds of podcasts what safeguards are in place to ensure that an advertisement doesnamp8217t appear in controversial or detrimental content to a brandOne of the most anticipated panels of the IAB Podcast Upfront featured ArtsAI an AI focused attribution tracking and optimization company and Barometer an AI company focused on brand suitability in audio The two companies revealed that they are partnering in order to provide advertisers more control over where their ads will run They also announced the launch of AB Daily which combines ArtsAIamp8217s pixel technology and Barometeramp8217s Cloud Technology allowing for show and episodespecific suitability In short the partnership will provide realtime monitoring of where an advertiseramp8217s ads are running Barometeramp8217s technology monitors every line of spoken word in a podcast and measures against a brandamp8217s specific safety protocols If an ad runs in what is deemed unsafe content by an advertiseramp8217s parameters the ad is flagged allowing for the advertiser to modify the campaignThe two companies announced that they are also working on a product which will allow for realtime brand safety in podcast advertising In this future offering an ArtsAI VAST Tag will serve ad creative only if a podcast is deemed brand safe as determined by Barometeramp8217s Brand Safety Scoring mechanism If Barometer deems the podcast unsafe the ArtsAI tag will serve either an ad from another advertiser or a PSA ad This new technology will provide marketers with the most advanced safety mechanism currently in the podcast marketplace and the necessary guardrails to prevent ads from running in controversial content The VAST Tag offering will be available for both direct and programmatic ad buysMental Health in FocusIn recent years mental health has taken on a much larger conversation in public discourse Happiness is vital whether itamp8217s at the workplace at home or within the individual Podcasting is a space where larger conversations can occur and people can both educate themselves and hear stories from others who have struggled and are fighting to overcome these complexitiesiHeartMedia the topranked publisher in Podtracamp8217s Monthly Podcast Industry Ranking is at the forefront in podcasting on this important topic with a slate of podcasts includingHappiness Lab w Dr Laurie Santos The Yale professor hosts a course at the prestigious university on the science of happiness She guides listeners through the science and shares inspiration that is aimed at changing the way people think about happinessOn Purpose w Jay Shetty A long running personal developmentfocused podcast Recent episodes include Methods to Increase Work Productivity How to Change Your Social Media Habits and How to Transform a Negative MindsetTherapy for Black Girls A podcast hosted by psychologist Dr Joy Harden Bradford focused on mental health and personal development Recent episode topics include how does trauma effect the brain dating and relationships in the digital age and healing through sound meditation and breathworkUnbreakable w Jay Glazer NFL Insider Jay Glazer shares his own personal story on mental health living with anxiety and depression Glazer discusses mental health with celebrities athletes and coaches Glazer recently interviewed Olympic Gold Medalist ski racer Lindsey Vonn in what was a candid discussion about her own struggles with depressionOther publishers mentioned content in this category as well but the podcast that received the biggest reaction from marketers was Cumulus Mediaamp8217s The Shawn Ryan Show Ryan a former US Navy Seal and CIA Contractor talked about his own struggles with mental health This podcast focuses on the ups and downs along with the wins and losses endured by people from all walks of lifeBetterhelp the mental health platform that provides online services to consumers has become one of the largest advertisers in podcasting Comedian and TV personality Conan Oamp8217Brien host of the award winning Conan Oamp8217Brien Needs a Friend podcast has a longtime partnership with Betterhelp and uses his platform to discuss the importance of mental healthPodcasts are a great source of both entertainment and education but just as importantly can provide a comforting community when people need it mostOutlookPodcasting continues to be one of the fastest growing digital media channels With the IAB reporting a 26 yearoveryear ad revenue increase in 2022 the medium is now poised to exceed 2 billion in 2023 and approach 4 billion in 2025 With technology enhancements to improve brand safety and an increase in programmatic offerings there is anticipation that this will garner additional interest in podcasting from largescale advertisersThis column was written by Jason Endres Associate Director National Audio Active USPosted at MediaVillage through the Thought Leadership selfpublishing platformClick the social buttons to share this content with your friends and colleaguesThe opinions and points of view expressed in this content are exclusively the views of the author andor subjects and do not necessarily represent the views of MediaVillagecomMyersBizNet Inc management or associated writers

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2023 IAB Podcast Upfront: Key Takeaways

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