U.S podcast advertising is poised to grow as much in the next two years as in the entire past decade, according to a study conducted by PricewaterhouseCoopers (PwC) for IAB, the Interactive Advertising Bureau, states Digital News Daily. Podcast advertising revenue rose to “$842 million in 2020, from $708 million in 2019, helped by a particularly robust, 37% year-over-year gain in the fourth quarter,” continues the Digital News Daily report.
Of importance, states the report, bigger brands are discovering “that podcast advertising can work across the sales funnel.
“With a 45% share of podcast ad revenue in 2020, brand advertising is now approaching parity with direct response, at 51%. For example, while direct-to-consumer brands remained the largest spenders by category, with a 19% share, pharmaceuticals’ share more than doubled year-over-year, to 9%..