That’s according to a new report published by WARC. The research firm says over the next three years podcast advertising could reach $1.6 billion.
The company also expects advertising in podcasts to near $885 million this year.
Most of the ad money, according to WARC, is coming from brands’ experimental budgets and the company says improvement on the measurement and programmatic buying will be required in order for the numbers to continue to grow.
WARC Data Managing Editor James McDonald wrote the report. “Podcast advertising holds great potential as it enables brands to reach a highly-engaged, young and affluent audience via a medium they have an affinity with. The majority of listeners understand the value exchange between podcasts and sponsorships, so brands need to establish a credible relationship between their messaging and the tone of the content to be effective.”