Do you listen to podcasts? If yes, you are one of the 464.7 million people globally who do this. According to the statistics, one in five Internet users listen to 4 million podcasts. By 2025, the number of podcast listeners will exceed 500 million and reach 23.5% of all Internet users.
Do you watch video podcasts? If the answer is yes again, then you are up to date with the latest trends, according to which video podcasts are developing at an incredible pace, and from nearly 39,200 in November 2022, their number has reached 50,800 in May 2023.
Nowadays podcast is a good media alternative in which we choose what to listen to or watch, when, and how. It is a part of the process of a new type of media development, in which the listener and the reader are already an active audience.
The podcasts vary in genre – from entertainment to popular science, technology, sports, politics, etc. They differ in length and style. In general, there is a podcast for every taste, and usually, the podcast listeners and watchers have in their list several podcasts, different in genre, that they regularly follow.
However, companies in Bulgaria still find it difficult to allocate a budget to sponsor a podcast, which turns its creation and maintenance into a real adventure. Because, let’s not blame our soul, to produce a podcast, especially a video podcast, requires funding. There are many parts in the chain of production and post-production that cost money, so capital is more than necessary.
But why actually sponsor a podcast?
The Right Audience
First of all, here we are talking about a constant and engaged target audience, moreover, that listens to each episode. This is an audience who, if they fail to listen to the episode on the day of its release, add it to the list for the weekend and listen to it at the earliest opportunity. So, if you want to reach an audience of genuinely interested and positive supporters and followers, who are eagerly waiting for the new episodes, the podcast is the perfect place.
Ready for action
Not only is the audience the right one you’re looking for, but according to the data, 82% of listeners have taken action as a result of sponsorship, and 75% of podcast listeners have a more positive attitude towards the brands that support it. There are several reasons for that. First of all, as part of a permanent audience, they have built trust in the podcast itself and in the host, which inevitably has a positive impact on the brand that is advertised. Secondly, the audience is actually a group of followers who are aware that for their favorite show to exist, there must be funding. That is, advertising is perceived as an absolute necessity so that listeners and viewers can eventually draw information or have fun with their favorite podcast.
Advertising through content
In addition to advertising spots, branding, etc., the podcast allows you to impose the brand through authentic content. Increasingly, we are witnessing joint projects of brands with podcasts, where within several series experts talk on specific topics and the result is unique media content that covers the important topics for the company, without leaving the flavor of traditional advertising irradiation.
Content to use
There is no marketing or PR expert who does not want to have on hand good video (or audio) content to use purposefully on social media in the next few months. And participating in a podcast gives just that — content that can be repeatedly shared because of the different topics that are addressed during the conversation. Imagine a campaign with different quotes from the last episode that are shared on social media over or over a period of time.
Lower cost than traditional media
Audio and video podcasts have the advantage of providing airtime at significantly lower prices than traditional media such as radio and television. You know, the cost of advertising in electronic media is rarely achievable for small, even medium-sized companies, so podcasts are a real alternative.
Why is a video better?
Although the mass trend is still on audio podcasts, video podcasts are gaining serious momentum. Spotify and Apple have already integrated video podcast capabilities into their platforms.
According to Riverside.fm, video podcasts can be 50% more engaging than audio podcasts. In a Morning Consult survey, 46 percent of podcast users said they prefer video podcasts, compared with 42 percent who only want an audio format. The main reasons for preferring video, they point out – to see the expressions and reactions of the guests and the presenter, to better concentrate on the podcast, and to watch celebrities and influencers.
Therefore, adding a video format to the audio becomes little by little a must for every podcast creator, and the main obstacle remains the cost of production, which quite swells with the video version. But, in view of global trends, it is clear that podcasts will increasingly enter the budget plans of marketing and communication departments, and will be imposed as the new type of media, so we will watch more and more video podcasts.
And a little more data
Interestingly, the biggest fans of podcasts are Brazilians, and in 2022, half of those interviewed in a survey said they listened to podcasts. They are followed by the Swedes and Mexicans. 73% of Americans listen to podcasts on their cell phone, and 28% listen to them while driving. Users follow an average of six podcasts, and 80% listen to all or almost the entire episode.