Brand-building Now Accounts for 61% of Podcast Advertising, According to IAB's U.S. Podcast Advertising Revenue Study
NEW YORK, Oct. 26, 2023 /PRNewswire/ -- Today, IAB released a follow up to its earlier podcast study, which found that U.S. podcast ad revenues grew at a rate more than double the total digital advertising market overall.
- Part two of the study, titled U.S. Podcast Advertising Revenue Study 2023: Drivers, Strategies, and Tactics for Growth , reveals the drivers, strategies, and tactics propelling podcast ad revenues, and shows where the market is heading.
- While programmatic has shown significant growth — up 5x from 2021 to 2023 — its share of podcast revenue is still only 11%.
- The kinds of sophisticated, audience-based buys common in other digital media channels only represent 25% of podcast revenues.
- The industry needs to create new ad models that align with larger percentages of podcast consumption within video environments.