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Ad Research company MAGNA, which forecasts advertising for all the major mediums such as TV, Radio, Outdoor and Print, has recognized podcasting as a player.
Earlier in the month the research firm predicted advertisers would spend $1 Billion in podcasts by 2023. Yesterday, MAGNA recognized podcasting once again in its 2019 advertising forecast report.
MAGNA says podcasting is still an emerging format but recognized that one out of every four Americans are listening to podcasts weekly and major consumer brands are starting advertising in podcasts. The research firm predicts advertising in podcasts will increase by 27% in 2020 to $850 million.