Following a year of unprecedented growth for the overall digital advertising industry in 2021, 2022 was a year of headwinds related to a slowing economy resulting in pullbacks on advertising and marketing spend, reports IAB.
Despite these macroeconomic factors, continues IAB, U.S. podcast ad revenues “showed resilience by growing 26% YoY to $1.8B. In fact, podcasting continues to be one of the fastest growing digital channels, outpacing the total internet ad market.”
The seventh annual IAB U.S. Podcast Advertising Revenue report, prepared for IAB by PricewaterhouseCoopers LLP (“PwC”), quantifies annual podcast advertising revenues generated over the past year, analyzes revenue share by ad category and content genre, and forecasts future revenues through 2025.
The IAB – the Interactive Advertising Bureau – states that it “empowers the media and marketing industries to thrive in the digital economy. Its membership comprises more than 700 leading media companies, brands, agencies, and the technology firms responsible for selling, delivering, and optimizing digital ad marketing campaigns.”