Dive Brief:

• The Interactive Advertising Bureau (IAB) announced its first-ever "IAB Podcast Playbook," according to a press release made available to Marketing Dive. The buyer's guide, released ahead of the IAB Podcast Upfront on Sept. 7, intends to provide advertisers with insights into audience demographics, listener behaviors, creative treatments, ad formats, delivery and targeting and ad effectiveness measurement.
• IAB research expects podcast ad revenues to top $220 million this year, an 85% increase over 2016. Almost 25% of people in the U.S. over 12 listen to a podcast on a monthly basis, and users subscribe to an average of six podcasts a week. Most people listen to podcasts on mobile devices, and podcast listeners skew young (44% under 34), educated, wealthy and likely to be business influencers, the group said.

• "This playbook will serve as a go-to reference guide to help brand marketers understand podcasts and effectively steer more ad dollars toward opportunities that will deliver in terms of audience reach," Anna Bager, SVP and GM of mobile and video, IAB, said in a statement. "In an industry where explosive growth and dramatic change have been endemic, podcasts are having a standout moment. We want to educate marketers on the unique and valuable benefits of advertising on the medium."

Dive Insight:

While the IAB describes the playbook as a first, the group has long offered best practices for the audio medium, releasing guidelines for measuring podcast advertising last September. However, the arrival of a detailed playbook now, along with the upfront in New York City next month, suggests marketers' interest in podcasting is ramping up along with listenership. 

The IAB isn't alone in touting the value of podcasts in connecting with an active, highly engaged and growing consumer base. Research from GfK MRI released last month found that almost 10% of U.S. adults listened to a podcast in June. GfK MRI's study lines up with the IAB's findings, suggesting that podcast listeners rank higher than the general U.S. population in business influence, with 20% engaged in three or more "public activities." That figure is 3x than that of the average person.

IAB and Edison Research published last year also found that 65% of podcast listeners are more likely to consider making purchases based on podcast ads. Sixty percent of those surveyed said they prefer purchasing from brands that advertise on their favorite podcasts, and listeners reported responding to podcast ads by visiting a sponsor's website (45%), considering a new product or service (42%) and gathering more information about a product or company (37%).