Technology has brought a lot of change in our world. The traditional sources of information that has been with us for more than a century (television, radio and the newspaper) are now being challenged by new forms of media. The dawn of the internet introduced new forms of broadcasting medium where we get our information from.
The television industry is having serious competition with YouTube and other video streaming websites; the end of the newspaper can be seen in the horizon as more and more people turn to the internet for news articles; and finally, the birth of podcasts has challenged the radio for a few years now. Learn more about Norman Pattiz: https://twitter.com/norman_pattiz
PR Newswire believes that Norman Pattiz has seen this kind of change coming, so he initiated a move that would turn his company into one of the largest radio network in the US. Norman founded Westwood One, which has grown tremendously under his leadership and has owned and managed a number of other smaller networks.
He also partnered with the giant media companies to distribute programs through his radio network, and one of the most recent innovations that he introduced was PodcastOne. Introduced in the 2010s, PodcastOne has grown to become the leading advertising platform in their field, and managed to produce over 200 programs broadcasted across the United States.
With their success in the field of advertising, PodcastOne is being frequented by brands resulting in a rise of profit from ad revenues alone. But PodcastOne has become curious as to how podcasting effectively helps in advertising a product, so they teamed up with a well-known research firm called Edison Research and commenced their study that would run from four to six weeks.
During this time period, they will be playing advertisement from different brands in different locations and see how it would affect their business.
The researchers have found four different major points in their study:
- Whenever a grocery product is advertised through podcast, 60 percent of listeners would remember it and would actually make a purchase.
- Unaided product awareness went up to 47 percent related to financial services, 37 percent for automobile products and 24 percent for lawn and gardening products.
- When advertised through podcast, automobiles products and lawn and gardening products are most likely to be purchased by one third of the total number of people who listened to their advertisement.
- The advertisement that ran through podcast has left positive impression to automobile products and restaurant businesses.
These major points that have been discovered through the study would just strengthen the brands’ trust to podcast advertising, giving PodcastOne a bright future ahead.