Podcast attribution helps marketers understand how well their advertising dollars are working in their podcast campaigns. Podcast advertising attribution platform Podsights just announced the close of a $4M oversubscribed Seed+ round, led by Newark Venture Partners with participation from Graham Holdings, Aglaé Ventures, and existing investors Greycroft, Supernode Global, BDMI, and Betaworks.
We spoke to Podsights founder Sean Creeley about podcast attribution in an exclusive interview.
PBJ: Who do you usually work with?
Sean Creeley: We usually work with some of the larger heads of the market like an NPR, New York Times, or Hubspot to help them understand what is working in podcast advertising. There was a recent survey that measurability and attribution are still the leading reasons why people don’t buy podcast ads, and we’re trying to change their minds and sort of open up the floodgates a little bit to say that podcasting is measurable. We partner with leading ad servers like Megaphone News and Nielson to bring those insights into campaigns.
PBJ: How long have you been in the podcast advertising segment?
Sean Creeley: We started in 2018, and we did really well in 2020 and raised about a million and a half a year ago. We had really good growth through the pandemic, and podcasting, like all industries, was hidden at the beginning of it and then had a nice resurgence come q3 q4 when everybody started to figure out their routines and started looking for additional content in the world.
PBJ: So you think podcast advertising is going to continue to grow?
Sean Creeley: Absolutely. It’s a very powerful medium. I’m sure you can name a couple of brands that you’ve heard because of really high ad recall with specifically some host read first-run ads or host endorsed reads. For the advertisers that need scale, the dynamically inserted ads are even programmatic to an extent. So there’s a little bit of everything for marketers out there, and it’s getting to be a more diverse set of content, which is great to see. We’re just starting to see scale, and with more and more people listening to podcasts, a rising tide lifts all boats.
PBJ: What would you recommend for anyone looking to invest in podcast advertising?
Sean Creeley: Here’s the thing, marketers tend to be biased towards the shows that they listen to, assuming that people that buy their product are like them and listen to the same shows. But what happens is they find out their audience doesn’t like the same shows and those advertisers are never to be seen again.
What we’re advocating for here is more of a thoughtful approach of finding out about the audience a little bit before we push through an ad buy rather than find out after the fact.
The publishers do an incredible job of advocating for podcast advertising and talk about the benefits of the medium, and our job is to put data behind that because at the end of the day, discount codes are not the standard of attribution anymore and we’re seeing a lot more of the big advertisers enter the space.
I think what we’re going to start seeing more of again are the traditional companies that do well and then the larger brand advertisers that want high ad recall in the favorability of these ads.