Todd Spangler NY Digital EditorListen to this: The podcast advertising biz is continuing its upward trajectory — with U.S. ad sales expected to grow 47% this year to $2.13 billion, according to a new forecast from trade group IAB and PwC.That’s actually a deceleration from last year.
The sector hit $1.45 billion in 2021, representing 72% annual growth, according to the report. In 2021, U.S. podcast advertising revenue grew twice as fast as the total internet advertising market, which was up 35% last year, according to the 2021 PwC/IAB Internet Advertising Revenue Report.Still, U.S.
podcast advertising revenue is poised to continue double-digit growth, growing more than 100% over the next two years to an estimated $4.2 billion in 2024, per the report.
According to the latest IAB/PwC podcast report, three key factors are driving podcast ad revenue growth: the ongoing increase in listeners and content; increased use of automated ad tech, as ad revenue served via dynamic ad insertion (DAI) has almost doubled in two years to take 84% share in 2021 (versus ads embedded in podcast audio); and growth of ad spending in categories that historically had lower spend volumes like sports and true crime.The IAB/PwC 2021 U.S.
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