Marketers Will Spend $1 Billion on Podcast Advertising by 2021 [REPORT]

New figures present that entrepreneurs spent $479 million on podcasts adverts final 12 months, and are projected to spend over $1 billion by 2021.

These figures are from the Interactive Advertising Bureau (IAB), and PwC, and reported on by eMarketer.

In an evaluation of the US podcast promoting business, it was discovered that self-reported podcast promoting revenues grew 34% in 2018. It’s predicted that income will develop 42% this 12 months.

Marketers Will Spend $1 Billion on Podcast Advertising by 2021 [REPORT]

Lauren Fisher, the principal analyst at eMarketer, speaks on the expansion of podcasts and the worth they supply to listeners:

“Podcasts are one of the fastest-growing, if not the fastest-growing category within digital audio.

Performance marketers and brands are recognizing the value in reaching consumers who aren’t just tuning in to tune out—they’re tuning in to actively be entertained or engage their minds. And that’s a mindset advertisers increasingly want to be a part of.”

The report from eMarketer contains extra knowledge on the present state of podcasts.

A (Relatively) Small But Passionate Audience

It’s projected that 76.four million folks, or 1 / 4 of the US inhabitants, will hearken to a podcast this 12 months.

While podcast listeners nonetheless signify a minority of the inhabitants, surveys have discovered that almost all are listening to a number of podcasts per week.

“In a March 2019 survey by Edison Research and digital audio technology and advertising company Triton Digital, a fifth (21%) of podcast listeners said they listened to four to five podcasts a week, and even more (31%) said they listened to six or more podcasts a week.”

Marketers Will Spend $1 Billion on Podcast Advertising by 2021 [REPORT]

Other Statistics

Here are some extra knowledge included within the report:

  • Over 70% of podcast adverts are purchased by manufacturers within the direct-to-consumer (D2C) market.
  • Ads learn by the podcast host are most most well-liked, making up 63.3% of adverts in 2018.
  • Pre-produced adverts made up 35% of final 12 months’s podcast adverts
  • Most (65.7%) podcast advert income in 2018 went to information/politics/present occasions, comedy, enterprise, schooling, and humanities & leisure podcasts.

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