Revenues from Podcast Advertising are projected to hit 1 billion by 2021

This article was published on Adage.com, written by Ethan Jakob on Craft June 04, 2019. Here are some highlights from the article that we found are interesting when trying to identify the social, economical, and technological market forces behind the emerging and exponentially growing podcast industry.

There is a truly rapid growth happening right now:

“Based on current trends and market sizing, the report forecasts that podcast ad revenue will continue to grow by 42 percent in 2019, brining it to an estimated year-end total of $679 million. And, if the upward trajectory continues, revenues from podcast-based advertising are predicted to surpass $1 billion by 2021.”

Audio is booming:

“Consumers have put podcasts front-and-center,” IAB Executive VP of Industry Initiatives Anna Bager said in a statement. “Podcast storytelling is deeply engaging and provides marketers with a brand-safe environment that enhances the appeal to advertisers.”

What advertisers say:

“Podcasts are a self-fulfilling prophecy,” says Chris Apostle, the chief media officer for advertising agency iCrossing. “Content is available everywhere, but podcasts have a very active listener base.” He adds that podcast listeners tend to gravitate toward a few niche types of content and that advertisers “do not look at podcasts in isolation. We buy audiences, not screens or content.”

In conclusion, this is an interesting read and for the entire article please visit adage.com.