The new episode of The Wolf Den podcast is truly a must-listen for anyone looking for a concise, yet deep exploration into the state of the podcast advertising business right now. Lex Friedman, Midroll’s EVP of Sales, is Adam Sachs’ guest for this fun inside look at the company and this rapidly evolving industry.
Lex touches on five important factors that are shaping the maturation of the podcasting industry. We will cover all of these trends in a short five-post series, starting with the the first: an influx of new, “offline” advertisers.
The pioneers of podcast ad campaigns have been online businesses, finding great success with the medium. Lex says that once advertisers start a podcast campaign, “they tend to be very happy, almost all of the time.” Yet, “there are very few companies that have podcasting on the list of things that they should save up for in their advertising budget.”
He says that what he calls “offline companies” are discovering podcasts, and we’re getting closer to the point where “the absolute hugest companies,” like automakers and soft drink companies, start carving out space in their budgets.
Lex thinks that podcasts will see Fortune 500 companies coming on board to advertise, if not in 2015 then in 2016. In this coming year “we’re going to see more ‘offline’ advertisers get involved. You know, HBO, IFC, Comedy Central, (and) VH-1, they’ve all had a lot of success with us. I think we’re going to see more networks doing tune-in campaigns with us.
“We’re also going to see more businesses that aren’t necessarily internet-first get in with Midroll over the next year.”
That leads Lex to observe, “Everything that’s happening now in podcasting, or will happen over the course of 2015, will be very good for advertisers.”
In the next post in this series we’ll get into these good things that are happening.