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New figures present that entrepreneurs spent $479 million on podcasts advertisements final 12 months, and are projected to spend over $1 billion by 2021.
These figures are from the Interactive Advertising Bureau (IAB), and PwC, and reported on by eMarketer.
In an evaluation of the US podcast promoting business, it was discovered that self-reported podcast promoting revenues grew 34% in 2018. It’s predicted that income will develop 42% this 12 months.
Lauren Fisher, the principal analyst at eMarketer, speaks on the expansion of podcasts and the worth they supply to listeners:
“Podcasts are one of many fastest-growing, if not the fastest-growing class inside digital audio.
Performance entrepreneurs and types are recognizing the worth in reaching shoppers who aren’t simply tuning in to tune out—they’re tuning in to actively be entertained or have interaction their minds. And that’s a mindset advertisers more and more need to be part of.”
The report from eMarketer contains further information on the present state of podcasts.
A (Relatively) Small But Passionate Audience
It’s projected that 76.four million folks, or 1 / 4 of the US inhabitants, will hearken to a podcast this 12 months.
While podcast listeners nonetheless symbolize a minority of the inhabitants, surveys have discovered that almost all are listening to a number of podcasts every week.
“In a March 2019 survey by Edison Research and digital audio technology and advertising company Triton Digital, a fifth (21%) of podcast listeners said they listened to four to five podcasts a week, and even more (31%) said they listened to six or more podcasts a week.”
Here are some further information included within the report:
- Over 70% of podcast advertisements are purchased by manufacturers within the direct-to-consumer (D2C) market.
- Ads learn by the podcast host are most most popular, making up 63.three% of advertisements in 2018.
- Pre-produced advertisements made up 35% of final 12 months’s podcast advertisements
- Most (65.7%) podcast advert income in 2018 went to information/politics/present occasions, comedy, enterprise, training, and humanities & leisure podcasts.