Who could have imagined that two people recording a conversation about their sports predictions could be such a lucrative business? It isn’t too difficult to imagine now, but when broken down to its simplest form, it seems almost comical.
The business of podcasting is not something to smirk at. Supply and demand continue to rise because of its user-friendly functionality and profitability.
Ease of Access and Options
The ability to listen to podcasts on any mobile device allows listeners to “tune in” on-demand, with leading distributors in Apple and Spotify available to most smartphone users. There is a genre for everyone with more than 700,000 active podcasts of differing subjects.
What companies have already expanded into the sports podcasting space? ESPN, Barstool Sports, The Ringer, The Athletic, The Players’ Tribune, Spotify, to name a few…
Podcasts are relatively inexpensive to produce allowing for a pretty-penny to be made through advertising. In 2019, studies show that 51% of the US population has listened to a podcast, and of those listeners, 80% listened to all or most of each episode.
The general advertising opportunities lie before, during and after programming with similar spots that radio assets lend. Marketers can use opening and closing billboards and anywhere from 15-60 second spots, with live reads from the talent on air.
However, the additional value that podcasts offer that radio can’t – video. The professionally done podcasts are normally accompanied by a recording of the conversation which allows for the opportunity to produce commercials, logo bugs, and supplementary brand awareness opportunities.
The biggest obstacle for advertisers in the podcast space however, is the inability to switch channels when an ad comes on. Instead, the listener/viewer trusts that it will be a short ad and they will transition back into the podcast. The listener must trust this podcast and know the ad has potential to be relevant to them.
Because of the seemingly endless podcast options, the ad will not be heard by nearly as many as it would on the radio, but it will most likely be heard by the target audience with their full attention. The phrase quality over quantity is the driver for this new advertising medium and we are interested in playing a role in its growth.
What’s AdSport Listening To?
Gary (CEO) – The Joe Rogan Experience
A lot of people who haven’t listened to his podcast might mistakenly think he’s some MMA meathead or the host of Fear Factor. But he’s a super-smart, very funny, curious guy who is a great interviewer. I love the diversity of the guests; one day he might have Ted Nudgent on talking about hunting and land management and the next it’s Elon Musk.
Andy (Managing Dir. Client Services) – The Ringer’s Podcasts & The Joe Rogan Experience
I get my sports, entertainment, and pop culture content from the Ringer’s network of podcasts but my go to is the Joe Rogan Experience. While I don’t listen to every episode (skip all the MMA related shows), I find Joe is a great interviewer and very knowledgeable about a wide-range of topics. A lot of his guests are experts in their respective fields which makes the show every bit educational as it is good listening.
Sherrick (Manager, Client Services) – The Bill Simmons Podcast
The Bill Simmons Podcast is a podcast I listen to religiously because of its inclusion of sports, comedy, and entertainment. The Ringer is building a media company that will lead the sports podcasting space for the foreseeable future and I am interested in listening the man at the helm.
Abby (Client Services Intern) – Chasing Excellence
Chasing Excellence is my go-to podcast. It is about health, fitness, business, CrossFit, and simply being a well-rounded person. It starts off my day with positive thoughts and I learn something new every time I listen. It really makes you want to “chase excellence”.