U.S. podcast ad revenue is estimated to grow 47% to $2.1 billion in 2022, according to a report from the Interactive Advertising Bureau and consulting firm PwC, states MediaDailyNews.
It is projected, continues the report, ‘that podcast ad revenue will tack on another 45% to $3.1 billion in 2023, and 37% more to $4.2 billion by 2024.
“In 2021, financial services represented the biggest advertising category with a 15% share, while retail direct-to-consumer and art/entertainment/media were also at 11%, followed by CPG at 8%; retail (brick-and-mortar/ecommerce) at 6%; and pharma at 5% as well as Telco. Automotive came in at 4%.
“Retail direct -to-consumer (D2C) had a lower share than in 2020 (19%), but volume increased.
“Automated advertising messaging — through dynamically inserted advertising — continued to rise to now comprise 84% of all podcast advertising, with 16% of advertising edited into podcast content after the fact.”
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