IAB’s latest report looks at the state of podcast advertising.
With brands increasingly realising the potential of podcasts in pushing engagement, they are increasingly becoming an integral part of the marketing mix. IAB’s report found that nearly half (47%) of the brands are now making podcasts as an essential part of their annual buy.
This upsurge has led to podcast advertising revenue forecast in the US rising nearly 15% to approximately $1 billion in 2020. Before the pandemic, the revenue was expected to grow at almost twice the rate (29.6%)
DTC brands (22%) and financial services (16%) are the heaviest advertisers in the podcast sector. With consumers preferring news podcasts over other genres, it is the most popular with US advertisers (22%). Other genres, which are, popular among advertisers, are comedy (17%), and society and culture (13%).
[4 minute read]