As many podcast industry participants posted earnings over the last two weeks, RedCircle was excited by our comparative growth as we saw RAP 2023 H1 revenue grow 107% YoY and a profitable Q2 overall. The advertising market continues to bounce back and our products to support advertising efficiency have been well received by partners.
RedCircle’s Host-Read ad platform (RAP) also saw accelerated growth from Q2 as unique host-read ads on the platform increased 17% month-over-month in July. Recent improvements to the platform, including Teams for Advertisers and Multi-Script, have allowed more efficiency for advertisers to scale in the channel and have given podcasters access to more revenue opportunities. A win-win for RedCircle partners that we’re excited to be supporting!
Teams for Advertisers allows organizations to provide unlimited access to the platform to their team members while layering on custom permissions for campaign management and reporting. It’s never been easier to build and flight new campaigns while analyzing your results in real time.
Multi-Script has further increased the efficiency of brand operations while also improving advertising conversion. With Multi-Script, brands can include multiple host-read scripts per campaign and rely on RedCircle to make each script unique to the podcaster’s personalized promotion code and vanity url. In addition to the personalization, a CTA pointing to the brand’s website is included in every episode’s show notes during the campaign to support conversion and help listeners discover the offer.
RedCircle plans to invest further in its host-read ad platform (RAP) with multiple product launches scheduled in H2 of 2023.