For a media format with a dismal record of attracting advertising investment – $314m in 2017, according to the IAB, versus the $12bn spent on online video in the same period – podcasts are beginning to attract a remarkable amount of attention from brands and agencies.

Successive sessions at Advertising Week Europe (AWE) were dedicated to the burgeoning market. With Spotify boasting a $500m war chest to bolster its presence in the podcast ecosystem, and PwC estimating that global podcast adspend will clear $1bn by 2020, many believe the medium is set to make the transition from niche pastime to mass audience appeal.

Podcasts already offer a pathway for brands to connect with “unique, distinct and hard-to-reach” audiences at a moment of immersion with key passion points, according to Elliott Millard, Group Managing Partner at OMD EMEA – even if much podcast content currently speaks to a narrow pool of liberal metropolitan commuters.

Advertising opportunities