We rounded up some of the top experts in our industry like Co-Founder of Sports 1 Marketing, Consultant & Business Coach, and podcast host David Meltzer, as well as executives from the programmatic media buying platform Audiohook, the weekly adtech newsletter Sounds Profitable and our very own Mike Kropko, Co-CEO of Ad Results Media to share their 2023 predictions for the podcasting industry. We break down all of the incredible intel from this brain trust into:
What’s in? – Key trends that will continue to develop
What’s out? – Previous trends we see waning in 2023
What’s new? – New innovations or developments on the horizon
What’s next? – We got out our crystal balls and took a longer-term view at the future of podcasting
What’s In?
Improved Attribution
“When times get lean, analytical features become even more important as they justify not just new spend, but keeping existing spend.” – Bryan Barletta, Sounds Profitable
“Measurement to me is the most important problem to solve with regards to the podcast industry. If you can properly measure something, then you can place a clear value on it. Everything has value if priced properly and measurement helps establish value.” – Mike Kropko, Ad Results Media
Multi-platform Expansion
“The channels that podcasters choose to expand to tend to be closely related to their audience’s desires. Some of the most recent trends I’ve seen include live podcasting, with in-person events centered around a live recording.” – Dave Meltzer, Podcast Host
Growth, Growth, Growth
“The variety of inventory options within a specific show and/or across different networks is staggering and constantly evolving, especially when comparing to only a few short years ago.” – Mike Kropko, Ad Results Media
What’s Out?
Walled Gardens
“We’re in this honeymoon phase where podcast sellers are able to blend podcasting and video analytics (specifically YouTube) as a combined offering. I expect in 2023 we’ll acknowledge how drastically different the two are and we’ll be reminded once again of the value of OpenRSS podcasting analytics.” – Bryan Barletta, Sounds Profitable
What’s New?
More Meaningful Audience Engagement
“People want to participate and engage more than ever, so they feel like they are truly a part of the podcast. The shows and people who best take advantage of that desire will be the big winners in 2023.” – Dave Meltzer, Podcast Host
“Younger generations continue to consume content or even initiate search via video. As more producers are adding video as a component – it makes the content that much more engaging from an embedded endorsement advertising perspective.” – Mike Kropko, Ad Results Media
Broad Programmatic Adoption
“I believe 2023 will be a key period for programmatic podcasting as publishers struggle with revenue due to a slow economy and marketers look to be more efficient with their media dollars. Programmatic podcast spend will jump from 8% currently to north of 15% in 2023. In terms of share of impressions, I believe it could be north of 25%”. – Jordan Bentley, Audiohook
Creative Testing
“As it relates to produced ads, creative testing and optimization which is very common in other marketing channels and is new for podcasting at scale. It will lead to unlocking even more value.” – Mike Kropko, Ad Results Media
What’s Next?
Fragmentation & Specialization
“There is a reality stirring where podcasting is broken into three categories. Where YouTube and Spotify embrace long tail in their walled gardens. Where the streaming apps like HBO Max, Netflix, and Disney+ all pull podcasts right into their app as a lure to keep people actively engaged with their content. And where core podcasting, what we all service today, continues to boom.” – Bryan Barletta, Sounds Profitable
Greater International Expansion
“International is the next logical expansion as the US market matures – which will bring new content and listeners to the table.” – Mike Kropko, Ad Results Media
Podcasting Gets Its “Banner”
“As Marty Michael of Gumball has said, podcasting lacks a banner format. We lack a default, expected solution that can be replicated for success. Once we move towards that, the proper outlining of inventory, expectations on ad load, and creative formats, we will make it easier for brand awareness advertisers to enter the space en masse.” – Bryan Barletta, Sounds Profitable
For more thoughts on how to make these trends work for your brand or business, please reach out to the team of experts at Ad Results Media.
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