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According to new data from Nielsen, the answer to that question is yes. And that has a lot to do with how hosts are reading the ads, weaving the commercials into the content of the shows, keeping listeners engaged.
Based on data from nearly 50 custom studies Nielsen has conducted over the last 18 months, podcast advertising has demonstrated that it can move the needle on many important metrics for advertisers. Podcast advertising has been found to increase key metrics like awareness, ad recall, affinity, recommendation, and purchase intent. 
Like radio, host-read spots are very common in the podcast space. It’s important for brands to understand how well the ads are woven into the content of the program. Based on the studies conducted, Nielsen found that brands and podcasters are doing a good job of incorporating ads into podcast content. Sixty-four percent of respondents agreed when asked if they think the ad was a good fit with the content of the podcast. This represents a great opportunity for brands to find shows that connect with their target audiences.
The IAB expects podcast advertising to exceed $500 million in 2019, which represents growth of about 65% in just two years.