U.S. podcast advertising spend jumped 21% in 2021, to reach nearly $590 million, according to data from MediaRadar.
Spending rose by 46% year-over-year in Q2, and 31% YoY in Q3.
“Vertical categories showing double-digit growth in spend included tech, media and finance. The top-10 podcast advertisers were Teladoc Health (BetterHelp), Capital One, Berkshire Hathaway (Geico), Capital One, ZipRecruiter, Simplisafe, Comcast, Amazon, Squarespace, Coors and Progressive,” states MediaPost.
“The data suggests that podcast advertising is effective,” notes the report. “Once brands become podcast advertisers, they tend to stay with the format: 79% of podcast advertisers from 2020 continued buying in the format in 2021, and the top spenders were some of the most steady advertisers.”