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In 2018, marketers spent $479 million to advertise on podcasts in the U.S., an uptick of 53 percent from $314 million in 2017, according to the latest IAB/PwC Podcast Advertising Revenue Study. The report forecasts that U.S. podcast marketplace revenues will double by 2021, surging to over $1 billion. Self-reported revenues by leading podcast companies show a similar trajectory, reaching $345 million, a rise of 34 percent over $257 million in 2017.
Host-read ads continued to be the preferred ad type, constituting nearly two-thirds of all podcast advertising. Direct response campaigns were still the most popular ad type, but are decreasing in popularity, as brand awareness and branded content ad types rose in use. Cost-per-thousand was by far the most dominant pricing method.
Direct-to-consumer Retailers and Financial Services spent more on podcast advertising than other industry categories. Overall, five business categories represented nearly three-quarters of all advertising revenue captured: Direct-to-Consumer Retailers (22%) Financial Services (21%) Business-to-Business (14%) Arts and Entertainment (10%) Telecommunications (7%)
ABC Radio, Adswizz, AudioBoom, Authentic, ESPN, Gimlet, iHeartMedia, Market Enginuity, National Public Media, Megaphone LLC, Podcast One, Inc., PMM, Inc., Rawvoice, Stitcher, WarnerMedia, Westwood One, and Wondery sponsored the IAB/PwC Podcast Advertising Revenue Study.
Coverage from _The Wall Street Journal, _The Verge and The Hollywood Reporter