The amount of money advertisers spend on podcasts keeps increasing. Not long ago, podcasts were relegated to experimental marketing budgets, but soon they’ll account for one-third of digital audio ad spending. Growing pains, including a fragmented market and measurement challenges, are abound, but they haven’t stopped ad dollars from flowing in.
3 QUESTIONS THIS REPORT WILL ANSWER
- How much money will advertisers spend on podcasts?
- Which companies will receive the most podcast ad revenues?
- How much time do people spend listening to podcasts?
WHAT’S IN THIS REPORT? An examination of trends, data, and strategies related to how marketers are approaching podcasts. Also, our latest podcast listener and advertising forecasts, including our first-ever estimates for Spotify podcast ad revenues.
KEY STAT: US podcast ad spending will surpass $2 billion in 2023 and will account for nearly one-third of digital audio services ad spending.
Here’s what’s in the full report
Table of Contents
- Executive Summary
- Key Points
- Podcasts Are Mainstream in US
- Changing Listening Habits and Emergent Tech Will Affect Podcast Advertising
- The Benefits of Host Reads and Using Multiple Platforms
Charts in the Report
- US Podcast Ad Spending, 2019-2024 (millions, % change, and % of digital audio services ad spending)
- US Podcast Listeners, 2021-2026 (millions, % change, and % of digital audio listeners)
- US Podcast Listeners, by Sex, 2021-2026 (millions)
- Share of US Podcast Listeners, by Generation, 2022 (% of total)
- Average Time Spent per Day with Podcasts Among US Adults, 2019-2023 (minutes, % change, and % of total time spent with digital media)
- Average Time Spent Per Day with Podcasts by US Adult Podcast Listeners, 2019-2023 (minutes and % change)
- Number of Podcasts Listened to by US Weekly Podcast Listeners, Jan 2022 (% of respondents)
- Top 10 Industries, Ranked by Share of US Podcast Ad Spending, 2021 (% of total)
- Budgets Used to Fund Podcast Ad Spending According to US Agency/Marketer Professionals, Aug 2021 (% of respondents)
- Platforms Currently Used by US Heavy* Podcast Listeners, Nov 2021 (% of respondents)
- US Spotify Podcast vs. Apple Podcast Listeners, 2021-2026 (millions)
- US Spotify Podcast Ad Revenues, 2019-2024 (millions, % change, and % of total Spotify ad revenues)
- US iHeartMedia Podcast Revenues, 2019-2024 (millions, % change, and % of total podcast ad spending)
- Top 10 Advertisers on US Podcasts, Ranked by Ad Spending, 2021 (millions)
- Extent to Which US Heavy* Podcast Listeners Feel that Total Podcast Ads Have Increased**, 2019-2021 (% of respondents)
- Attitudes Toward Podcast Advertising Among US Podcast Listeners, Sep 2021 (% of respondents)
- Effectiveness of Podcast Ads According to US Adults, Sep 2021 (% of respondents)
- Share of Time Spent with Podcasts Among US Teens/Adults, by Location, Q4 2019-Q4 2021
- Share of Programmatic Podcast Ad Revenue, by Category, Sep 30, 2020-Sep 29, 2021 (% of total)
- US Clubhouse Mobile App Downloads, Q4 2020-Q4 2021 (millions)
- US Social Audio App Downloads, Q4 2020-Q4 2021 (millions)
- Select Social Audio Services Used by US Teens and Adults, Jan 2022 (% of population)
- US* Podcast Ad Benchmarks: Average Conversion Rate, by Ad Format, Q4 2021
- US* Podcast Ad Benchmarks: Average Ad Frequency, Q4 2021