Brands continue to eye podcasts. Two new pieces of data released this week indicate the medium is healthy, advertisers are interested and the money will continue to flow for the next several years.
Westwood One has released the results of its 5th Advertiser Perceptions study about podcasting. The annual report looks at brand and agency sentiment on podcast advertising.
The good news continues for those who want to make money podcasting. Public radio companies have reported healthy revenue gains from their podcasting divisions in 2020 despite huge losses in over-the-air revenue due to the pandemic.
According to a new eMarketer report advertising in podcasts will hit $1.6 billion by 2024.
Westwood One’s Pierre Bouvard says, according to the latest Westwood One Advertising Perceptions study, since 2015, podcast advertising consideration among brands and agencies has grown 2.5X and their intention to spend ad dollars in podcasts has grown nearly 4X. And now two-thirds of buy-side decision makers are discussing podcast advertising with one-third are actively spending.
eMarketer says that host-read sponsorships, will rise by 10.4% this year to more than $780 million.