MAGNA and VOX MEDIA Unlock Listener Mindsets as Podcasts Fuel Digital Audio Market Growth

Podcasts have leapt forward to become the primary driver of the digital audio market representing 40 of ad sales 25bn in 2024 and forecasted to grow by 11 this year according to MAGNA US Advertising Forecast December 2024 As audiences flocked to the space brands followed Podcast growth is expected to continue to outperform the total digital audio market in 2025amp8220Itamp8217s been exciting to see how both podcast audiences and advertisers have evolved over the past few years Our new MAGNA research adds another dimension to how we understand listeners and how brands can derive even better returns on their media investments through tailored planning strategiesamp8221 said Dani Benowitz Global Chief Negotiations Officer IPG MediabrandsThe new studyamp8217s mission was twofold First figure out the predominant listener mindsets and build profiles Then utilize the data to formulate media planning strategies aligned to these mindsets The mindset profiles uncovered insights like why they were listening how they felt in the moment where podcasts fit into their daily routines and more The researchers found a treasure trove of information after analyzing the detailed diaries kept by over 2000 research participants aged 18The top three Mindsets were Indulgence 53 Inspiration 31 and Interconnect 16 These were the listeners39 mental states during the podcast not static states nor descriptors of specific peopleThe largest group amp8211 Indulgence Mindset amp8211 were joyful listeners who turned on their favorite podcast while at home or in a calm place to enjoy some amp8220me timeamp8221 and be entertainedInspiration Mindset listeners were active gogetters who sought mental fuel for their journey and chose a podcast amp8211 familiar or new amp8211 to boost their energy with quality contentThe Interconnect Mindset included listeners with deep feelings openness and a high degree of trust who wanted a sense of community and connection to the outside worldA theme across mindsets was the integration of podcasts into listenersamp8217 lives and their engagement beyond audio amp8211 on social media through likes and shares of shortened content 58 followed a podcast host on social 53 purchased products advertised 29 met fellow fans IRL 20 etcamp8220We keep audiences at the forefront of our podcast strategyamp8221 said Bryon La Bumbard Vice President Podcast Partnerships Vox Media amp8220When we can expertly align their listening preferences with both our programming content and advertisements from our brand partners then we create a truly connected experience Our research with MAGNA further empowers us to do this in a datadriven way providing a holistic view across platform audiences and brands This drives performance for our brand partners and ultimately better engagement with our listenersamp8221How Advertisers Can Piece Together Podcast Strategies Marketers and planners should work closely with podcasts to understand advertising topics tones formats and lengths to appeal to the audienceamp8217s mindset For example people in an Inspiration mindset listen in short bursts amp8211 under 30 minutes amp8211 while on the goBrands with a good story to tell could resonate with more than twothirds of the podcast listeners identified in this study People in the Indulgence and Interconnect mindsets preferred fewer longer ads with Indulgence preferring hostread ads or brand sponsorshipsWhether youamp8217re a beauty brand travel business or tech company podcasts represent an opportunity with most listeners finding any product and service suitable for advertisingTapping into mindsets rather than audience data like demographics and interests supports an omnichannel media strategy as podcast content is multiplatform In addition to digital audio fans want to engage across TVvideo 53 radiobroadcast 53 and print 42For more information and to read the full MAGNA Media Trials report please click the link herePosted at MediaVillage through the Thought Leadership selfpublishing platformClick the social buttons to share this story with colleagues and friendsThe opinions expressed here are the author39s views and do not necessarily represent the views of MediaVillageorgMyersBizNet

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