U.S. podcast advertising was worth $314 million in revenue in 2017. This represents a significant 86% rise from $169 million in 2016.
Research from IAB/PWC Podcast Advertising Revenue Study predicts an even stronger growth in the medium term. The study has forecast $659 million by 2020, a triple-digit increase from 2017.
Host-read ads were found to be the preferred ad type by listeners representing more than two-thirds of ads which ran in 2017.
The following podcast genres generated more than half of the advertising revenue in 2017:
When breaking down into sectors where the ad spend was coming from, financial services was in pole position with an 18% share. This was followed by direct-to-consumer retailers at 16% and arts & entertainment at 13%. “These strong numbers speak to advertisers’ increasing recognition that podcasts provide a powerful platform for reaching and engaging audiences,” said Anna Bager, Executive Vice President, Industry Initiatives, IAB.
There is a growing trend towards ‘anywhere and everywhere’ media engagement which has created a large opportunity for digital audio, meaning podcasting is a significant component. “ Americans are listening while they live” – David Silverman, Partner at PWC US
Title: Podcast Ad Revenues Expected to Top $220 Million in 2017, Climbing 85% from Previous Year, According to IAB Source: IAB Date: 06.26.17
Full Article: https://www.iab.com/news/podcast-ad-revenues/