Podcast advertising is becoming more popular among businesses as companies seek ways to broaden their reach and invest in influencer marketing.
One of the unique benefits of podcast advertising is the ability to run targeted campaigns. Rather than spending dollars to target and reach your market, podcasts give companies access to large audiences of potential customers.
So whether you’re seasoned in running podcast ads or are brand new to the industry, here is a list of the top podcast advertising statistics you should know.
- Podcast audiences aren’t put off by podcast ads, and many say they would be more likely to purchase a product if they heard it in a podcast ad.
- Trends are leaning toward dynamically-inserted ads that run for about 15 to 30 seconds. Advertisements should be direct, specific and to the point.
- Announcer-read ads are increasing in popularity and proving to be as effective as host-read ads.
- Podcasts are growing in popularity and weekly podcast listeners in the US are consuming more content at a record rate with an average of nine episodes per week.
Podcast advertising statistics
IAB, the (International Advertising Bureau), released a report on the US Podcast Ad Revenue. Here are some podcast advertising revenue statistics:
- IAB reported that US podcast revenue officially hit $1 billion in 2021.
- Experts predict that podcast revenue growth will jump to $3 billion in 2023 and $4.2 billion in the year 2024. This is steep growth since 2019, when the total revenue maxed out at $708 million.
- The study found that 70% (almost three-quarters) of ad revenue is collected from podcasts with weekly or bi-weekly episodes. Shows with daily episodes also did well but weren’t as popular likely due to higher episode volume and higher pricing as a result.
- A 2019 study by Edison Research called The Podcast Consumer reported that 54% of monthly listeners were more likely to consider a brand after hearing it advertised during a podcast.
Ad types and formats
The following values are based on stats from the IAB revenue report.
- When comparing dynamic ads to baked-in ads, stats reflected a strong push towards dynamically-inserted ads. In 2019 baked-in ads took a slight 52% lead; however, by 2021, dynamic ads are seen to have become the dominant delivery method at 84%.
- Announcer-read advertisements are becoming more popular amongst ad formats jumping from 27% to 40% in the span of only two years.
- In the past two years, just over half of podcast ads run for 15 to 30-seconds.
Key takeaway: Trends are pushing toward dynamically-inserted ads that are shorter yet long enough to leave listeners wanting to know more.
These stats and market predictions demonstrate that podcast advertising is picking up speed. Companies who have not considered advertising on podcasts should start taking advantage of the medium now.
Podcast listener statistics
Edison Research conducted a study called The Podcast Consumer, marking podcast listener stats for 2023. Here are some podcast listeners stats demonstrating the growth and effectiveness of the medium as a whole:
- Podcasts are considered “mainstream,” with 83% of Americans familiar with the concept and 42% having listened to a podcast within the last month.
- Podcast show statistics for advertising revealed that listeners are open to podcast ads. 46% of monthly listeners don’t find podcast ads intrusive. This was almost the opposite response to ads on Youtube, where 43% found Youtube ads “very intrusive.”
- The majority (74%) of monthly listeners listen to podcasts weekly.
- Podcasting is reaching the younger generations. Over 55% of monthly listeners fall within the 12 to 34 age bracket.
- Of monthly listeners over 18+, data showed that most podcast listeners are college educated, employed, and have a household income of over 75k.
- Reports show that the average listening time has doubled since 2015 with the current average at about 9 hours per week listening to podcasts.
- The number of podcasts per week has also increased with US weekly listeners averaging at nine episodes per week.
Key takeaway: More people are listening to more podcast content especially in the younger age category. Listeners are open to ads playing during their favorite shows.
Why advertisers should take note of these statistics
Advertisers should be aware of industry statistics since they indicate the growth of the medium as a potential for increasing brand awareness and improving lead generation. Following the trends in podcast advertising statistics can give businesses an edge in the game.
It will help identify what your audience is listening to
A higher number of people are listening to higher numbers of podcasts and, since most listeners don’t mind podcast ads, this presents an opportunity to get your brand name in listeners’ ears.
A large percentage of podcast listeners are educated, employed and able to make their own purchasing decisions. With this in mind, advertisers can target more ads to audiences within their niche with a higher potential for conversions and leads.
It will help to identify the types of ads to run
Podcast stats also give a hint as to which types of advertisements work well and which formats podcasts and hosts are more likely to accommodate. Shorter, dynamically-inserted ads have taken the lead and announcer-read promotions are leveling out in popularity with host-read ones.
This means businesses can run more advertisements with lower CPM fees.
It can help advertisers know which ad platform to use
Advertisers should find a platform that supports dynamic ad insertion, which can also assist in geo-targeting. Podbean Ads Marketplace supports dynamic ad insertion for both host-read and pre-recorded advertisements. It even supports geo-targeting so hosts and businesses can be sure that the right ads are playing in the right ears.
Podbean lets business owners refine their search by location, genre and language so advertisers can be confident that their ads are running in the right niche. Our content-safety checking tool also ensures your ads are only played with content that matches yours.
Interested in podcast advertising for your company? Try Podbean.
We understand that data is important. That’s why we’ve designed a platform that gets you the data that you need, so you can make better marketing decisions for your company. Podbean Ads Marketplace has trackable results and integrates with various third-party ad-trackers so you can stay up-to-date on your campaign.
Sign up and choose from thousands of shows to get the word out about your business today.
FAQs about podcast advertising
Is podcast marketing worth it?
Looking at these numbers and the growing popularity of podcasting, we would argue yes.
Traditional advertising methods like TV and radio aren’t guaranteed to reach your target audience’s ears. On the contrary, podcasting allows for much more niche targeting and even geo-targeting so you can advertise directly to potential customers within your niche.
How many listeners do podcast ads get on Podbean?
Tracking the number of listens can be skewed, so here at Podbean we track by downloads instead. Sponsors can choose podcasts that have more downloads to ensure their ads get heard.
If you’re interested in running host-read ads, only podcasters with a minimum of 10k downloads a month can access this feature, giving you higher ad exposure.