Podcasting isn’t child’s play anymore. In 2021, advertiser demand for scripted audio programmes and interviews grew twice as fast as total online advertising.
The Interactive Advertising Bureau says podcasts are becoming “mainstream, prominent, and influential.” Their sixth annual US Podcast Advertising Revenue Study released in May found that:
- The podcast advertising industry grew 72% year-over-year to $1.4 billion in 2021.
- Ad expenditure on podcasts is estimated to hit $2 billion in 2022 and reach over $4 billion by 2024.
- Dynamic ad insertion (DAI) now accounts for 84% of podcast ad income, a figure that has doubled in two years.
- Casual listeners are becoming dedicated followers. They now listen on average to four episodes per week.
As it evolves, the podcast space still has its quirks. That’s why collaboration between podcasters and agencies are crucial to growing this medium without compromising its present user experience. Are you ready to be heard?