32 Podcast Advertising Statistics To Know About in 2024 And Beyond

The podcast advertising market is growing, with many twists and turns in recent years. It is currently one of the go-to markets for marketers and brands looking to reach quality audiences.

Since introducing true crime shows in 2014, the podcast advertising market has grown in popularity and has become the battleground for brands and marketers. For this, understanding the nuances and changes in podcast advertising statistics and trends is more important than ever.

In this guide, we have scoured the web to compile essential statistics about podcast advertising. From podcast ads spend to podcast ads ROI and other general podcast ads statistics, here is the most important guide you need to get started.

Podcast Advertising Spend

The upward trajectory of podcast ads spending has been astounding, thanks to the steady increase in podcast listenership and the quality of audiences it attracts. Here's a breakdown of how advertisers are investing in podcasts.

General Podcast Advertising Stats

Podcast Ads are taking their fair share of the global advertising market and there are many reasons why that is. Here are some important ones:

1. Podcasts currently take about 4% of the global marketing budget. Considering that about 45% of people in the US in 2016 don't know what a podcast is, that's a good share of the market.
2. Podcast advertising revenue is projected to reach $4.02 billion by 2024.
3. Podcast ads are projected to make up approximately 36.36% of the total digital audio ad revenue in 2024.
4. Podcast advertising market is expected to exhibit a 7.76% annual growth - eyeing about $5.03 billion by 2027.
5. The United States is the leader in the podcast advertising market with an estimated revenue of $2.57 million in 2024.
6. Podcast ad spending in the U.S. is expected to grow and is projected to surpass $2.5 billion by 2024.

Listener Behavior Stats

We have learned the general scope of podcast advertising and how it blends with the online advertising market but how do listeners respond to podcast ads? Here are some stats about that;

1. 6 of out every 10 podcast listeners have made a purchase from advertisers.
2. On average, a podcast listener listens to 5-7 ads per episode
3. About 73% of podcast listeners in the US are receptive to sponsored messages.
4. 75% of listeners said they were happy with the purchase they had made from podcast ads.
5. Additionally, 80% of podcast listeners did not believe advertisements negatively affected the overall quality of the podcast.
6. Also, 52.2% of Gen-Z have made a purchase after hearing a podcast ad while only 42% of millennials have done the same.
7. 51% of Super Listeners (those who listen to 5+ hours a week) pay more attention to ads on podcasts than on other media.
8. Also, 56% of Super Listeners opined that hearing an ad on a podcast makes them more likely to purchase a product or service.
9. Listeners can tolerate about 4 ads in a 60-minute-long podcast and about 2 ads in a 15-minute-long podcast.
10. 50% of most active podcast listeners agree that advertising on a podcast is the best way for a brand to reach them.
11. About 55% of listeners confirmed they purchased an item after hearing it advertised on a podcast.
12. On Spotify, about 93% of the brain's engagement with podcast content is transferred directly into ad engagement.
13. Ads longer than 40 seconds led to hosts losing subscribers.

Podcast Ads Format Stats

There are host-read ads, programmatic ads, pre-roll ads, mid-roll ads, post-roll ads, dynamic ads, sponsored segments, etc. But, it's no news that some of these ad formats perform better than others. Here are stats about these ad formats;

1. 66.9% of podcast ads in the US are read by the host.
2. Half of the podcast ads lasted longer than 30 seconds in length.
3. Over 70% of listeners preferred that ads were read live when recording instead of being played as a pre-produced segment.
4. Mid-roll is the most frequent ad placement by brands new to podcast advertising.
5. More than half (55%) of podcast ad revenue comes from host-read ads.

Podcast Ads Reach and Result

In hindsight, the value of podcast advertising lies in its depth and ability to reach many listeners and the results it can drive. We will explore the number of money spent on podcast advertising, highlight the biggest spenders in the market, and podcast ads reach. Here are some stats demonstrating that;

1. The top 15 podcast advertisers spend about $50 million during March 2024 alone.
2. Podcasts currently reach over 42% of Americans every month as compared to only 12% about a decade ago.
3. 36% of podcast listeners say they’ve tried out a lifestyle change – such as a workout routine, journaling, or buying a product – because of a podcast they listened to.
4. About 2000+ brands are advertising on podcasts.
5. There were about 1400+ new brands advertising on podcasts for the first time in Q1 2024
6. Advertisers on average spend over 249k per month on podcast ads on podcasts ranking in the top 500
7. On average, each new brand invests about $20k in testing podcast advertising.

Wrapping Up

Existing brands and new ones in the podcast advertising market are spending more money on podcast advertising and it’s a trend that seems to not dying soon. These stats are presented as a deep dive into the nuances and changes in podcast advertising to understand the landscape of podcasts in the digital audio advertising industry.

Go Beyond Podcast Ads Statistics And Start Implementing Your Podcast Strategy

As podcasters, you can read everything about podcast ads, from podcast sponsorship to its best practices, but the best result comes from actually growing your podcast to be part of these big earners. By using Podsqueeze to accelerate your podcast marketing and repurposing your episodes on social media, you can increase the popularity of your podcast and position yourself for bigger podcast ads revenue.

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FAQs On Podcast Advertising Statistics

• How successful is podcast advertising?

  Podcast advertising has seen remarkable success in recent years, with many brands investing a significant of their marketing budget in podcast ads. This is because of the quality of podcast listeners who are highly engaged and actively seeking out content they are interested in. This makes them more receptive to advertising messages. Additionally, podcasts cover a wide range of topics and genres, allowing advertisers to target specific audiences based on their interests, demographics, and listening habits. If you're looking to keep track of your ad spend and measure ROI, download CoHost's free podcast ad planner.

• How big is the podcast advertising market?

  Podcast advertising market has been steadily increasing year over year representing about 4% of the global advertising market. This market is projected to continue expanding in the coming years as the podcast landscape grows, increasing advertiser interest, and advancements in advertising technology.

• Who are the largest advertisers of podcasts?

  BetterHelp is the biggest spender ($8,291,000) on podcast ads as of March 2024 and Amazon comes as close second ($4,851,300). These advertisers encompass a diverse range of industries and brands, each leveraging the unique benefits of podcast advertising to reach their target audiences.