Are you investing in podcast advertising in the long-term? Podcast ad spending is forecast to get a 27.4% boost to $1.7 billion in 2022. As the overall digital audio ad spend revenue goes from strength to strength, the question is: if you’re not investing in podcast ads, should you be?
According to Emarketer podcast ad revenue increased by 55% since 2020, standing at an approximated $1.3 billion in 2021. Research projects that in 2022, podcasts will account for one-fourth of the US digital audio ad spend. This figure is expected to rise to a third of digital audio ad spend by 2026 at the latest or 2024 at the earliest – and over $3 billion by 2026. Having dedicated budgets could help centralize campaign planning and measurement for advertisers committed to podcasts over the long run.
The Podcast Advertising Market Report Q3 2021 found that over 30% of US advertisers had a budget set aside specifically for podcast advertising. Over half of surveyed advertisers plan to increase the budget allocated to podcast ads in 2022. Emarketer also predicts that audio subscription revenue will account for 62.1% of digital audio revenues by 2025.
To find out how you can best leverage existing adtech solutions and get the best monetisation and audience conversion possible, you can read more or get in touch with the AdTonos team for a demo of our platform and solutions.