Podcasting has been around for a while, but its popularity only continues to soar.
According to this Spoken Word Audio Report, 46% of the U.S. population listens to spoken word audio daily, an estimated 26M more than eight years ago—and media outlets, influencers, and advertisers have all taken note.
Just this week, the New York Times launched an iOS app for audio journalism. Earlier this year, Top Fox’s own CMO even appeared on a podcast. Listen her thoughts on the importance of honesty in advertising and ChatGPT’s impact on copywriting.
In a recent report, Magna’s Media Trials and Vox Media found that listeners are more influenced by podcasters than traditional social media influencers and TV/movie celebrities. That’s likely because podcasts offer more in-depth information, an intimate format, and exposure to current topics.
With an increase in active podcast listeners comes an increase in podcast advertising.
According to the Interactive Advertising Bureau (IAB) in this US Podcast Advertising Revenue Study, “U.S. podcast advertising revenues surpassed the $1 billion mark in 2021 for the first time (to $1.4B), as it continues to be one of the fastest growing channels in digital media. With 72% growth, podcast advertising grew twice as fast as the total internet advertising market which was up 35% YoY.”
The report projects podcasting revenue will reach nearly $4B by 2025, suggesting that the explosive revenue growth was driven by an expanding consumer base and dynamic ad insertion.
We’re excited to see where the industry goes.
