Spoken-word audio firm AudioBoom has seen its revenues shoot up by 329% in the last year, thanks to what it says is an upswing in advertising spend within podcasts.
Its revenues may still be small in the scheme of things – just under £1.5m in the third quarter – but they reflect the fact that brands are increasing their budgets for podcast ads, which in turn is making spoken-word shows an increasingly attractive channel for influencers.
AudioBoom's partners include US podcasts Undisclosed, Dave & Chuck the Freak and Drink Champs, as well as the Totally Football Show and No Such Thing as a Fish in the UK.
“Nearly 90 million people listened to a Boom in August and this already incredible number of users continues to grow month on month," said AudioBoom CEO Rob Proctor, with his company adding that it had 602m 'available advertising impressions' within its content in the last quarter.
"This provides a prime target for agencies and marketers who have now realised this engaged, motivated and attractive audience is an ideal demographic for clients’ advertising spend. Major marketing budgets are therefore increasingly being allocated to the podcasting and audio mediums."
With influencers ever keen for new channels to reach new fans and deepen the engagement of their existing followers – not to mention new sources of income outside those on their core social platforms – we'd expect to see a growing number launch podcasts in the months to come.
The fact that music-streaming companies like Spotify and Deezer are also making podcasts more of a priority within their services is also an attractive trend, capitalising on the pop-culture popularity of US shows like Serial and S-Town.