U.S. podcast advertising revenues near $1 billion in 2020, according to the fourth annual IAB Podcast Advertising Revenue Report prepared by PwC. The report projects that ad revenues will increase nearly 15% (14.7%) in 2020 despite COVID-19. Prior to the downturn caused by the pandemic, podcast ad revenue was estimated to grow by as much as 29.6% in 2020.
Podcasts are gaining traction as part of brand annual planning–rather than adding them on as “scatter” purchasing strategy, when brands and agencies buy inventory closer to the air date. The report found that those making podcasts part of their annual buy has nearly doubled (47%).
Additional highlights:
- DTC brands (22%) and financial services (16%) make up top podcast advertisers . . .
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