After the digital audio sales company Targetspot reported its podcast ad revenue tripled during the first half of the year, the company says it is “doubling down” on the medium. That includes adding new resources in the U.S. marketplace where Targetspot says its podcast marketplace has been “refined” to meet the demands of advertisers who are looking to buy space from multiple podcast publishers.
“As we have continued to expand our podcast supply, we have simultaneously been improving both show level transparency and category accuracy. This means buyers can have further confidence in buying what they are targeting, and having greater visibility in the actual shows where ads are running,” said Dominick Milano, SVP of Sales and Business Development in North America.
The Targetspot podcast marketplace has grown to now reach more than one billion monthly impressions in North America. That includes podcast from radio groups including Bonneville, Salem Media Group and Canadian broadcaster CBC, as well as publishers like Spreaker and Empire Magazine.
Targetspot said in July that its revenue during the first half of the year rose to $14.9 million, a 19.1% increase compared to a year ago. In North America, Targetspot says its first-half revenue rose by 13.1%. Growth was hampered by what it called a “moderation” in advertising investments in certain sectors including the automotive and job recruiting sites.
Alexandre Saboundjian, Chairman and founder of Targetspot, says revenue from podcasts made up 28% of the company’s revenue during the first half of this year. That compares to 19% for the whole of 2021.
Targetspot is also ramping up its podcast efforts in Europe. In the U.K., it has partnerships with two new publishers --Sport Social Podcast Network and WIZARD Radio Media – giving ad buyers the opportunity to reach a wide-ranging audience of sports fans and Gen Z listeners.
In France and Belgium, Targetspot is picking up the ad sales for three new podcasts produced by Paradiso Media and Brut. Targetspot has also partnered with the French platform Audiomeans, the leading independent podcast hosting and distribution company in terms of listening volume.
“The many partnerships forged in recent weeks will further accelerate our increasing influence in this high-potential channel,” said Saboundjian. “Podcasts bring together an audience that is both highly engaged and highly qualified, offering agencies and advertisers unprecedented targeting capabilities. With its turnkey Targetspot Podcast Marketplace solution, our group has become a key player in podcast monetization.”
