If you didn’t think anyone could make money podcasting, think again.
The Interactive Advertising Bureau (IAB) has just released its U.S. Podcast Advertising Revenue Study, and it reveals that podcast advertising will grow as much in the next two years as it did in the past decade.
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Driven by a strong Q4 in 2020 (+37%), podcast ad revenues climbed to $842 million in 2020, up from $708 million in the year prior.
IAB projects podcasting will see $1 billion in ad revenue in 2021 and $2 billion in 2023.
Here are additional highlights from the IAB report:
- Dynamically-inserted ads, which enable ad placement at the point of listener download, increased share of revenue from 48% to 67% year over year.
- Announcer-read/pre-produced ads increased share from 27% to 35%.
- Host-read continues to represent over half of revenue by ad type.
- Brand advertising (45% of 2020 revenue) is approaching parity with direct response (51% of 2020 revenue).
- At 76%, mid-roll spot placements continued to account for three-fourths (76%) of revenues.
- Half of Podcast ads lasted longer than 30 seconds in length.
- News continued to be the top content genre for Podcast advertisers (22% market share).
- Direct-To-Consumer brands maintained the top advertiser category market share (19%), while Pharmaceuticals more than doubled in share Year-Over-Year (9%).