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That prediction from Forrester analyst Collin Colburn and he says it will happen in 2020. Right now the IAB pegs podcasting at about $400 million so that will be quite a jump if Colburn is correct.
Here’s Colburn’s entire prediction from his blog: “Podcast ads will hit $1 billion in media spend. Podcasts are on the rise: MusicOomph reports that there are over 700,000 active podcasts today, while US consumers spend over 3 hours per week listening to audio content, according to Forrester Analytics’ Consumer Technographics® data. More publishers will look to podcasts as a new delivery point for their content and to draw more ad dollars from marketers. The Interactive Advertising Bureau (IAB) estimates podcast advertising spend to have topped $400 million in 2018, and we predict that number will rise to over $1 billion by the end of 2020.”