With its acquisition of Gimlet Media and Anchor, Spotify is setting its sights on becoming the go-to destination for podcasts. It’s a sign of the medium’s growing influence as brands seek ways to tap engaged and young audiences who want immersive narratives that can hold their attention.

Luminary is aiming to turn its subscription-based platform into the Netflix of the podcast world. With a whopping $100 million in venture funding, it’s hedging its bets on exclusive, ad-free content and the promise of greater creative freedom for podcasters.

Podcasts have never been more popular in the US – 44% of people nationwide have tuned into one – with some shows like Desus & Mero now making the transition from audio to audio/visual. But are listeners ready to become viewers? And why are brands eager to engage with podcast fans?

Drain cleaner brand Drano has released a series of podcasts called ‘Tales from the Drain’ – turning clogged drains into horror stories. Podcasts are increasing in popularity and as consumers crave new forms of entertainment content, advertisers are waking up to their power.