| Podcast advertising could be a $45B opportunity for marketers, says Luma, an investment bank. Luma
released figures comparing the time spent with digital audio versus the
amount of ad money spent, and the numbers are staggeringly different
compared to that spent on digital video. - Luma
found that time spent with digital audio for U.S. listeners was around
20%, while the ad spend was only 3%. Digital video has results of 37% of
time spent for Americans and an ad spend of 32%.
- "We're now in
this world where we're shifting from third-party data to first-party
data platforms. And these are some very large first-party data platforms
who control this ecosystem. So there is a lot of opportunity there,"
Luma partner Conor McKenna said.
- The growth of the creator
economy is set to help the audio landscape, as social media platforms
like TikTok and Instagram have aided marketing spends.
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