What is a live read? A live read is an advertisement and/or endorsement recorded by podcast(s).
What is/are the purpose of live reads? Live Reads are used by advertisers to market their products on podcasts. Podcasters are asked for live reads because of their relationship with the audience. This preexisting relationship increases the likelihood that the audience will be more engaged and willing to purchase and/or sign up for the product.
How are podcasts booked for live reads? Advertisers and podcasts have two options available for booking: baked-in reads or dynamic reads. All reads are booked with a flat fee/cpm rate.
Baked-in reads (downloads per episode) are embedded into a specific episode of a podcast and stay there in perpetuity.
Dynamic reads (impressions) are targeted to midroll (or preroll) markers placed into the episodes of the podcast catalog. This allows us to maximize revenue for the podcast. *Note: podcasts send an MP3 of the live read to Spreaker for client approval, once approved it is programmed and set for launch. The podcast MUST drop the episode the same day the dynamic ad launches.
What is the threshold of downloads and/or impressions for a podcast to qualify for live reads? The podcast must consider their US audience when calculating downloads/impressions. Live reads are only booked against US downloads or impressions.
Baked-in reads* - 40,000 US downloads per episode within 30 days of posting on a consistent basis (at least 2 months).
Dynamic reads* - 50,000 midroll impressions in the US within 30 days on a consistent basis (at least 2 months). Note: podcasts already approved for live reads are grandfathered in and will continue to qualify for live reads as long as they meet all other program requirements.
How are numbers calculated for podcasts? We review podcast downloads and/or impressions for the last 2-4 months (as well as previous year, if applicable).
How long does the podcast have to reach the booked download and/or impression numbers? Shows must acquire the booked downloads and/or impressions goals within 30 days of launch of the live read. Some agencies may accept up to 45 days of reporting. Some also book on a weekly basis.
How often does Spreaker review numbers for podcasts? On a monthly basis. Note: download/impression numbers are changed if the show has consistently increased/decreased for at least 1 month.
What type of reporting do agencies require for live reads?
Baked Reads:
A time stamp of the live read with a link to the show
An MP3 clip of the read with :30 seconds of content before and after
Downloads for episode with booked live read
Dynamic Reads: MP3 of the live read - approved by the client before it goes live within the podcast.
Can the podcast use the same live read for each booking? No, each live read must be refreshed and unique each time. The use of old reads could result in cancellation of the program by the advertiser or a make-good request. *Note: even if the copy is exactly the same, a new read MUST BE processed each time.
How many midroll markers can a podcast place in their episodes? This depends on the podcast. Some podcasts place 3-4 midroll markers per episode while others only place 1-2. It’s completely up to the podcast as long as the podcast blocks the required IAB categories to prevent a competitor running within the podcast.
How many live reads can be booked per episode (baked-in)? This depends on the podcast and timing of the advertiser program. Some podcasts have 2-3 live reads booked, some prefer to only do 1 per episode and drop an additional episode.
How do you create separation in the ads for an episode with multiple live reads booked? Some podcasts will do a preroll for one ad and then a midroll for the other ad (This is only acceptable if the reads are booked as such). If there are two advertisers booked for midrolls on 1 episode, then the advertiser would select their desired placement.
How are live reads sold? Live reads are sold at a flat/cpm rate but they can also be CPA (Cost Per Acquisition).
How are CPA programs different from flat rate programs? CPA programs are only paid based on sign ups received by the podcast.
How are CPA programs tracked? The advertiser creates a unique vanity url or a promo code for the podcast to use. The podcast then promotes this url and/or code during the live read. The conversions are tracked from the URL or promo code and monthly reporting is provided to Spreaker for billing purposes.
How and when are podcasts paid for live reads?Via PayPal, connected to their Spreaker account, 60 days after drop (i.e. Jan paid in Mar).
How much revenue does the podcast earn per live read? Podcasts earn between 60%-70% of the revenue booked per live read.
Does live read revenue include programmatic spots inserted into a podcast? No, live read revenue is separate and in addition to programmatic revenue.
What is the impact on revenue for baked vs. dynamic live reads? The main revenue difference is baked-in reads are a flat guaranteed rate that is paid as long as the podcast does not under-deliver by more than 10% on an episode. For dynamic reads the podcast will secure all the revenue by delivering in full on the booked goal. Under-delivery will always result in less revenue unless the client is willing to extend the end date of the ad so that it can deliver in full.
If a podcast is booked with a dynamic read and it over/under-delivers, what happens to the revenue amount? Does it go up/down? Yes and no.
If the ad is booked at 10,000 impressions and: it delivers in full (meaning fulfills impressions goal) = podcast secures booked rate
It over-delivers (meaning delivers a bit more than a booked goal) = podcast secures booked rate, there is no payment for over-delivery (note: ads are setup to cut off once the goal is reached)
If it under-delivers (under booked goal) - the podcast is paid based on “actualized impressions” this means, the podcast will be paid for impressions delivered for the dynamic read.
Consistent posting should prevent any issues with delivery of dynamic reads.
How long does it take to get started with live reads after being onboarded to the live reads program? It depends. We send an initial email to all our ad partners announcing the new podcast partnership and this usually drives inquiries from advertisers. However, this doesn’t always lead to an immediate buy, it may come months later. It depends on how a particular advertiser is spending their money (weekly vs. monthly, etc.) and if the podcast meets their target audience.
If the podcast goes on hiatus, does this impact live reads eligibility? Yes, it does. Please reach out if the podcast is going on hiatus, it is seasonal or taking a break. All podcasts should be actively podcasting in order to secure advertisers.
If the podcast stops posting while booked for live reads does this impact existing bookings and revenue? Absolutely! A podcast should avoid going on hiatus with live reads booked. This will jeopardize the podcasts live read program(s) as it is considered a breach of contract, advertisers book “active” podcasts and if there is a sudden hiatus, this appears to be a back catalog buy and puts Spreaker in a tricky situation. If a podcast ever needs to stop podcasting while a live read program is booked, we encourage them to reach out to us immediately so we can alert the client and secure a solution beforehand.
Can a podcast book dynamic reads outside of Spreaker and run them on our ad server? Unfortunately, this is not an option. Revenue sharing requirements for advertisers, podcasts and Spreaker become difficult to manage when booked outside plus we would have to manage any DI read(s) booked (trafficking, reporting, etc.). If the podcaster would like to book advertisers without Spreaker, the reads should be baked-in. Note any reads booked outside of Spreaker CANNOT compete with existing advertisers already on the podcast. This will jeopardize the advertisers booking, result in a loss of revenue as well as the podcast being removed from the live reads program.
Am I Earning less because I am not using programmatic ads? The amount earned for live reads versus programmatic ads is served at a higher rate and can result in higher earnings. For Example, if your live read is placed at $25 per ad where the Programmatic ad is $3 you will earn more revenue even if a lesser amount of programmatic impressions are reached.
While doing live reads, you can also keep your programmatic ads to further increase your earnings. The best way this is accomplished is to place more ad markers within your content to offset the dynamic live reads so programmatic ads will continue to gain impressions.
Please contact livehostreads@spreaker.com for more information.