The podcasting firm’s inaugural CMO Summit discussed the vast opportunities in podcasting for brands.
Podcasting has become a mass-market medium, but UK brands are still lagging in their response, according to the founders of production company Goalhanger, which is behind many of Britain’s leading podcasts.
Speaking at the company’s first Chief Marketing Officer Summit, co-founder Tony Pastor said advertisers had been slow to grasp the scale and intimacy of podcast audiences. “I’ve been saying for some time now that podcasting has broken out as a mass-market medium but the brands and agencies have still not caught up with that fact yet,” he said.
The summit, held at central London, brought together around 80 industry professionals to examine what brands might be missing. Goalhanger, whose portfolio includes 11 podcasts such as The Rest Is History, shared data on audience reach and engagement that outstrips many TV shows. The company claims to draw 48 million monthly listens across platforms and 13 million YouTube views. The Rest Is History alone averages four million listens a week, or 16 million a month.
The event also tackled what Pastor and co-founder Gary Lineker, the former England footballer and Match of the Day host, called five common myths about podcast advertising. Among them: that podcasts are niche, audiences have short attention spans, and the medium is only suited to B2C brands. Goalhanger’s data shows an average listen time of 40 minutes and a high proportion of senior professionals among its listeners, including many in government, tech, law and finance.
Advertising and sponsorship make up about two-thirds of the company’s revenue. Goalhanger also draws on surveys of more than 20,000 listeners of The Rest Is History to profile its audience, which Pastor said skews young, affluent and well-educated. A significant portion has household incomes over £100,000.
Despite the growth, UK podcast advertising remains a small slice of the market. Enders Analysis estimates its value at £70 million — dwarfed by the US. “We are still playing catch-up,” said Pastor.
The company announced a 12th show, Journey through Time, hosted by historians David Olusoga and Sarah Churchwell.
One challenge, speakers agreed, is ensuring ad content is as engaging as the shows themselves. But with the rise of video podcasting on YouTube and Spotify, many believe the format is poised for further growth.
Source: Noah Wire Services
- https://events.cmoalliance.com/location/london/ – This URL corroborates the significance of marketing summits in London, highlighting the importance of networking and strategy-building among CMOs, which aligns with the event discussions on podcasting as a marketing platform.
- https://www.courts.michigan.gov/492eca/siteassets/publications/benchbooks/evidence/evidbb.pdf – Although not directly relevant to the article, this PDF highlights the importance of evidence and data in building a case or strategy, which is crucial for supporting claims about marketing and audience engagement.
- https://events.cmoalliance.com/location/oldlondon/ – This URL supports the concept of CMO summits in London focused on marketing strategies, but does not specifically address podcasting; however, it emphasizes the role of leadership and innovation in marketing.
- https://www.adwantedevents.com/futureofbrands – This event showcases the future of brands and media, emphasizing technology and innovation, which aligns with the article’s discussion on podcasting as a growing medium for brand engagement.
- https://www.noahwire.com – This is the source mentioned in the article, providing credibility and a possible platform for publishing insights about podcasting and marketing, although specific content cannot be verified without further information.
Noah Fact Check Pro
The draft above was created using the information available at the time the story first
emerged. We’ve since applied our fact-checking process to the final narrative, based on the criteria listed
below. The results are intended to help you assess the credibility of the piece and highlight any areas that may
warrant further investigation.
Freshness check
Score:
9
Notes:
The narrative does not appear to reference outdated or recycled news. It discusses recent events, such as the Chief Marketing Officer Summit and the current state of podcast advertising.
Quotes check
Score:
6
Notes:
Direct quotes from Tony Pastor are included, but the earliest known references for these quotes could not be verified online. The lack of prior online sources for these quotes suggests they might be original or not widely reported previously.
Source reliability
Score:
8
Notes:
The narrative originates from Campaign Live, a reputable source in the advertising industry. However, the reliability of specific claims, like podcast engagement metrics, depends on Goalhanger’s data.
Plausability check
Score:
9
Notes:
The claims about podcasting growth and its potential for advertising are plausible and align with recent trends. The comparison of podcast audience sizes to TV shows and the UK market trailing behind the US aligns with general industry observations.
Overall assessment
Verdict (FAIL, OPEN, PASS): PASS
Confidence (LOW, MEDIUM, HIGH): HIGH
Summary:
The narrative is generally believable and well-supported by plausible claims about the growth of podcasting. While the quotes could not be verified against earlier sources, the overall content appears fresh and from a reliable industry publication.