New report reveals how we’ve embraced the power of podcasting

With 3 million downloads of their Toni & Ryan podcast each month and a global legion of fans they love to meet and greet in person, Ryan Jon Dunn and Toni Lodge are a perfect example of how the perception of who’s consuming a podcast goes well beyond merely the ‘listener.’

It’s not just an audience. It’s a community.

Now, an increasing number of advertisers are seeing the value of embracing the power of podcasts, their world-wide reach and the intimate connections they generate.

Amid continuing uncertainty – and for many, anxiety – within the media world, there’s some positive news for Australia’s digital audio industry today, with a new report shining a light on the important role podcasters play in the creator economy.

Podcasts have evolved into much more than just a popular entertainment option – they have indeed become a powerful platform for advertisers.

IAB Australia’s Australian Audio State of the Nation Report found agencies are leaning in more towards this medium, with a whopping 79% intending to increase their podcast investments this year.

Previous global reports about the creator economy have focused on the value of traditional video and social media influencers, overlooking podcaster’s ability to build extraordinary communities and foster deep emotional connections that offer great value for marketers.

This latest report found agencies have broadened their use of podcasts beyond the usual favourite of lifestyle, health and wellness.

They’re now investing strongly in other genres including society and culture podcasts (up 12%), news and current affairs (up 10%) and true crime podcasts (up 9%).

Streaming music (65%) and streaming radio (56%) will also see increases in spend according to the report, with audio’s ability to offer incremental reach on other media and to compliment the media mix, flagged as the key drivers of growth.

Podcasts were also seen by 87% of respondents as providing new marketing opportunities in the creator economy, thanks to the partnership between podcast creators and advertisers.

Gai Le Roy, CEO of IAB Australia, says “The report highlights the strength of the digital audio ad industry in terms of investment but also its expansion within the digital ecosystem. Agencies and marketers are applying the same measurement techniques to digital audio as they do to video. They are also exploring the role of podcasters in the creator economy and capitalising on the growing trend of video-enabled podcasts.”

Steve Golding, Chair of the IAB Audio Council and Head of Audio Automation at NOVA Entertainment says “It is pleasing to see the report reflect the uptick in the number of advertisers using programmatic buying for digital audio inventory, offering both increased options for existing audio advertisers as well as welcoming a range of new digital advertisers.”

The IAB report was supported by industry body Commercial Radio & Audio (CRA), as well as 18 different media and tech companies, including Acast, Nine, ARN, Eardrum, Earmax, Magnite, Nova, SCA, Triton and Spotify.

It comes as independent podcast company Acast posts its first year of profitability in its financial results.

Acast’s year-end report revealed net sales growth of 19% in 2024, a significant milestone in the company’s development.