US Podcast Revenue To Surpass $1.4B, Capturing 20% Of Digital Radio Ad Spend

Studio microphone for recording podcasts over blue background
SHARE
THIS



New figures show podcast revenue is set to surpass US$1 billion ($AU1.4b) in 2021 as the popularity of the format continues to grow amid the global pandemic.

In eMarketer’s latest projection of ad revenue to podcasting, it’s also been revealed podcasts will capture 20 per cent of digital radio ad spending in 2020.

eMarketer’s summary states: “By the end of 2020, podcast ad spending in the US will reach $782.0 million, up 10.4 per cent from last year, giving it a 21.0 per cent share of the US digital radio ad market. And in 2021, spending will jump nearly 45 per cent to $1.13 billion.”

“Growth in podcast advertising spend will be more resilient this year relative to digital radio advertising as a whole, which will see double-digit declines,” said eMarketer forecasting director at Insider Intelligence Shelleen Shum.

“The continued growth in podcast advertising is no surprise, as investments have made podcasts accessible to a wider audience. The news genre, a focus of many podcast advertisers, has performed well during the pandemic. While some ad campaigns were paused in H1 due to the uncertainty from COVID-19 lockdowns, we expect a rebound in Q3 and Q4.”

Meanwhile, the Australian podcast market continues to rise, with Deloitte predicting the podcast market to hit $47 million by the end of the year.

However, this a small dent in comparison to Commercial Radio Australia’s recent figures, which revealed Australian metro radio stations earned $643 million in ad revenue in the 2019/20 financial year.

 

Please login with linkedin to comment

podcasts Radio

Latest News

Eyeota Enhances Reach And Targeting Precision For RDA Research
  • Marketing

Eyeota Enhances Reach And Targeting Precision For RDA Research

Leading Australian market research data brand, RDA Research, provides actionable consumer intelligence to help businesses inform decision making and growth strategies. RDA Research wanted to make its unique consumer data available for addressable digital targeting and required a data onboarding partner to help activate their data in an online environment.

Enthral Strengthens Journalistic DNA By Hiring Channel 7 Reporter Sean Sowerby
  • Media

Enthral Strengthens Journalistic DNA By Hiring Channel 7 Reporter Sean Sowerby

Storytelling agency Enthral has appointed Channel 7 reporter and sports presenter Sean Sowerby as its new senior PR and content manager in Melbourne. Sowerby (pictured) started his award-winning career at 3AW before spending more than 15 years in television. Enthral founder and manager director, Cameron Smith, spoke of the significance of Sowerby joining the agency. […]

Blis Puts Its CEO In The Desert In Clever New “Data Drought” Ad
  • Campaigns
  • Technology

Blis Puts Its CEO In The Desert In Clever New “Data Drought” Ad

Ever since Google first announced it would be getting rid of third-party cookies on Chrome, digital advertising businesses have been actively sharing their plans for life after cookies. And now programmatic advertising company Blis might have come up with the most creative way to get the message across, in a new video which sees company […]

Agency Icon Sweeps The SABRE Awards
  • Marketing
  • Media

Agency Icon Sweeps The SABRE Awards

Integrated Melbourne agency Icon has taken top honours in the 2021 SABRE Awards, winning the coveted Australasian Consultancy of the Year for 2021 along with a host of category and craft awards. Icon led a large field of Australian agencies with a total of three major and seven minor awards, including gold in the cause-related […]

Former Agency Execs Launch Car Service Summon
  • Marketing
  • Media

Former Agency Execs Launch Car Service Summon

Former agency executives Tim O’Neill and Tim Fouhy have launched the auto technology startup Summon. Australia’s first full e-commerce service for prestige cars. O’Neill and Fouhy both founded Reactive, a digital agency, which was bought by Accenture in 2016. Following the deal, O’Neill and Fouhy ended up leading the company’s digital marketing arm, Accenture Interactive before […]