In 2015, advertising revenue in the podcast industry was $69 million. It’s expected to reach over $1 billion by 2021, and to grow. The podcast boom is powered by younger generations. Millennial and Gen Z represent a sizable portion of the total podcast audience globally.
Total spend over direct carrier billing will reach $100 billion for the first time by 2025 — that’s rising from $37 billion in 2020. The increasing shift to subscription-based models for digital services, such as games, video streaming and music, will be key to realizing a growth rate of 172 percent over the next 5 years.
The sudden shift to virtual events in the first half of 2020 produced mixed results in terms of attendance. While just over half of the events lost the audience in the transition, 46 percent gained attendees as a result. Removing travel requirements and audience familiarity with video presentations worked together to keep event attendance largely intact.
On average, brands realize 47% of their marketing efforts after one year. With global advertising spending estimated to be back to growth in 2021 (12.9% growth), you should not be cutting your advertising efforts, especially not for new products.
Conferencing applications are now the norm at home and work. Over 99% of respondents including both organizers and attendees report using conferencing applications for home use. They use an average of 4.8 different applications “often”.
While 2019 has seen the first deployments of 5G in the consumer domain, 2020 will be the year of large scale commercial 5G rollouts across the globe. As a result of this network investment, 5G generated revenues for cloud-based entertainment services are forecast to rise rapidly.
Marketers are shifting investment strategies. Global digital advertising impressions on mobile (+32%) and over-the-top (+182%) devices increased significantly in first-quarter 2020 versus first-quarter 2019 and computer impressions saw a -9% decrease.
“As a number of powerful media companies enter the streaming video marketplace in a very big way, choice in this promising arena has never been greater. The clamor to get involved in the streaming boom is certainly growing louder, but when it comes to determining successes and failures, the consumer is the ultimate decider.”
A new study finds 86% of marketing managers report challenges with recruiting talent — 67% anticipate expanding their team in the first half of 2020. And, 69% of employers plan to increase the number of freelancers they use — a 7-point jump from six months ago.
via Robert Half