IAB's 2023 Podcast Upfront: Building an Ad-Supported Media Superhighway

The Big Message: The more places and platforms a podcast exists, the more appealing that podcast will be for ongoing ad commitments. For companies and brands, this is a critical time to invest substantial dollars in podcasts and podcast distributors as they move this marketplace into new arenas, such as source material for TV series, YouTube channels and smart TV product-circulated content. "We're at an inflection point where podcast creators are becoming their own publishers," remarked David Cohen, Chief Executive Officer of IAB.

Host: Top podcaster Nora Ali, now heading Mason Media, her own organization with TV series and film projects in the works alongside additional podcasts. She brought enthusiasm and gravitas to her role, while keeping the event on-time and worthwhile for attendees. "We tell stories that push the boundaries of technology and our future," she said. "We're all part of an exciting media opportunity."

What Worked: The variety of approaches participating companies used to make their case for ad dollars. Some gave podcast hosts a generous -- and diverse -- showcase of their work, while Acast and other parties invited brands to go beyond campaigns with the most-heard podcasts and giving promising newcomers support. Especially effective: The Wall Street Journal/Barron's Group's segment involving a trio of series hosts. The moderator introduced each host with a portion of a recent episode, then had them elaborate on their topics, how they were handled and listener reaction.

What Also Worked: Conan O'Brien speaking at sxm Media’s mid-afternoon presentation on behalf of his uber-popular "Conan O’Brien Needs a Friend" podcast. "You get a different kind of interaction with the fans," he acknowledged. "They know more about me than friends in my life. It's more authentic."

What Didn’t Work: Paramount and The Daily Wire bowing out of scheduled presentations the week before. Both organizations could have benefitted from exposure at this event. This would have been the only public forum this Upfront/NewFront season for any of Paramount's content enterprises, and Daily Wire is leaping from audio/video podcasts to megacontent force with Daily Wire+.

Bonus Points: Generous time for noncommercial podcast activity at National Public Radio (NPR) and WNYC Studios, the podcast-making unit of New York City public radio station WNYC AM/FM.

Data Points: Podcast advertising spend will reach $2.3 billion this year, then double two years hence to $4.6 billion, according to IAB's latest research, prepared by PricewaterhouseCoopers LLP. About 32 percent of listeners age 18-49 hear at least one podcast daily. More than 120 million U.S. citizens are anticipated to hear podcasts every month throughout 2023. The top-rated 500 podcast series account for 44 percent of all podcast ad spending, Acast officials disclosed during their presentation.

News:

IHeart Podcast Network -- Putting together Outspoken, a set of podcast series featuring voices from the LGBTQ+ community, and a branded content studio.

Wondery -- More than 25 podcasts from this Amazon unit’s stable have been adapted for TV or will be in the months ahead, including "Gladiator" as the opening season of Ryan Murphy’s American Sports Story anthology franchise on FX, and "Twin Flames" with Mandy Moore.

NPR -- Coming up: "Body Electric," exploring how the human body adapts to information age trends, along with new podcast series on technology and climate change developments.

Sony -- Expect two spinoff series out of popular Sony Music podcast "Getting Curious with Jonathan Van Ness." Also, new Sony-backed venture Orbit Media will focus on developing podcasts that give birth to TV series adaptations.

Cumulus Podcast Network -- Personality Bron Heussenstamm is setting up a pair of BELAV ad-supported TV services distributed through smart TV products and multichannel bundles.

As for IAB, look for a first-ever "Connected Commerce" all-day event in mid-September, featuring players on all sides of the emerging video commerce scene.

Parting Words:

"You have a medium that's no longer emerging. We are established. We're in an economy of attention. You're in rarified air here." -- Conal Byrne, IHeart Radio's Chief Executive Officer

"Podcasts can no longer be an experimental part of your ad bucket. This is now a must-buy." -- Wondery Chief Executive Officer Jeanine Wright

"Who here doesn't have a podcast? Your time is coming!" -- Live with Kelly & Mark co-host/"Let's Talk Off-Camera" host Kelly Ripa

"Somebody comes to fix your drain -- and they have a podcast!" -- Conan O'Brien

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