Mumbai: With ABP Live, Clubhouse, and other similar platforms making the right noise, the long format of audio content has gained popularity, and drawn the attention of marketers too. Previously, podcasts were mostly extended content pieces coming out of radio channels because of their understanding of the medium. However, they have grown immensely over the last few years.
According to KPMG, India is the third-largest podcast-listening market globally and is expected to be valued at Rs 176.2 million by 2023, growing at a CAGR of 34.5 per cent. The audio was also noted as the most preferred medium among listeners as well as advertisers last year. As per eMarketer’s report from April 2020, 49 per cent of users prefer using audio platforms. According to experts, the age group of 18-25 years has formed an important and growing audience set in the last year for this type of content, while the age group of 35-45 years is positively moving towards consuming podcast content, which is a great platform for brands to be present.
ABP Live Podcasts: A new favorite for advertisers
ABP Live podcast has found a loyal listener base too, proving its immense growth potential. By offering advertising opportunities, the podcast is emerging as an influential platform. The key reason behind brands' interest and increasing spending on podcast advertising is that it works, and it works more effectively compared to the traditional advertising mediums that have become increasingly less effective. It is a popular medium especially among millennials and GenZ as the medium lets them learn more about self-love, discover something new, cope with anxiety, or simply entertain themselves.
As one of the leading players in the industry offering a comprehensive platform for advertisers, ABP Live brings a plethora of audio-based content, quenching listeners’ thirst for knowledge, entertainment, sports, news, health, and business. The popular podcast by ABP Live- ‘Car Mein Patrakaar’, has also won wide recognition.
The podcasts provide a diversity of original content to the listeners that are smart, culturally relevant, highly information-driven, and filled with invigorating conversations. ABP Live has about 30 podcasts under its umbrella as of now which translates into 150 hours of audio content, which further opens doors for advertisers. Furthermore, the ABP Live Podcasts team has also been innovating in the podcasting space by fusing ASMR in their content and audio dramas, to provide the listeners with an immersive storytelling experience.
Apart from podcasts on Personal Finance, Health, Explainers, Motivation, ABP Live includes “Car Mein Patrakar”- a talk show wherein ABP News' star anchor Sumit Awasthi indulges in a candid conversation with a popular celebrity. “FYI-For Your Information”- a series of audio explainers which talk about everything under the sun that holds relevance for the common man. “Bollywood, Binge and Beyond”- an English podcast that gives a detailed hawk eye view about everything from the world of entertainment. “Sange Suman” projects major news and debates from West Bengal, hosted by noted journalist Suman De.
Opening Doors For Advertisers
Considering the growing demand for podcasts in India, ABP Live has provided a significant opportunity for advertisers. However, before we decide whether to invest in podcast marketing, we must first understand what, how and what the results could be. Here are the things that make podcasts an ideal medium for advertising:
● Great hosts make great deals : Listeners might skip what a 30-second spot is narrating but they pay high attention to unique, live ad reads narrated by their favorite trusted hosts.
● Higher attention span than radio: Unlike radio listeners, podcast listeners are dedicated enough to tune in at a particular time to listen to their favorite show. Hence, they are much more likely to pay attention. They do not skip ads, simply because they do not want to miss out on any part of the show they’re listening to.
● Hosts make a personal approach: Word of mouth is important in advertising and it becomes 10x more important when it comes from a trusted host. People tend to develop personal relationships with their hosts or podcasts personalities. It's a psychological process that unknowingly takes place over time. Subsequently, the host becomes an important person to disseminate brands’ messages to the listeners.
Podcasts like ABP Live podcasts have reached masses and seen tremendous results for early-stage brands who conduct marketing programs that are synergetic to their target profiles. Interestingly the channel has gone too narrow in terms of marketing. It has regional podcasts which allow brands to tap into niche marketing.
An Opportunity To Tap Into Regional Market
ABP Network has a language-first approach. Starting from the culturally rich state of West Bengal, the network serves regular content in Hindi, English, and Bangla and is equipped to handle content in all Indian major languages. In the past, ABP Live has created innovative audio content in Marathi and Bangla too. Also for a brand or advertiser, they get to deliver their message directly to their target audience in the language they speak and understand. This opens a big door of opportunities for regional podcasters who can leverage this by keeping a ‘language first’ approach.
This format of regional language content creation is beneficial for the podcaster in terms of reach maximisation and also revenue growth. Regional podcasters can create their own set of loyal audience bases and can attract brands and advertisers to be associated with them. Going forward, we expect podcasters to grow by exploring innovation in the audio content space.
