A research conducted by IAB and PwC also projects podcast ad revenue to exceed $1 billion by 2021.
The report found that podcast ad revenue in the US increased by 53% in 2018, reaching an “all-time high” of $479 million from $314 million in 2017. The research also reported that the US podcast marketplace revenues will cross $1 billion by 2021.
The article also found that 51% of US consumers over 12 years of age have listened to a podcast and 22% have done so in the past week. Moreover, 78% of podcast consumers “don’t mind” branded sponsorships.
Ads read out by the host make up about two-thirds of all ad types and are preferred over pre-produced ads. 22% of podcast ad revenue is attributed to direct-to-consumer (DTC) retailers and 21% to financial service providers.
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