According to research firm WARC, the podcast market has been experiencing rapid growth and this trend is estimated to continue. From 2013 to 2018, podcast ad spend has increased 1,344%. It is estimated that by 2022, total podcast adspend will reach $1.6B and will make up 4.5% of all audio advertising market share.
2018 saw a 46.9% increase in podcast advertising spend reaching $649.8 MM. It is estimated that 2019 will grow 36.2% YoY and reach $885MM. Some of the top podcast advertisers so far within 2019 are ZipRecruiter, Geico, Indeed, Squarespace, SimpliSafe, Quip, Robinhood, Zenni Optical, Madison Reed, Casper, Skillshare, ThirdLove, Care/of, Stamps.com, and Progressive.
Advertisers are flocking to podcasts for a variety of reasons. According to Nielson:
How many podcasts are there? So far, effective May 1, 2019, there are roughly 700,000 unique podcasts and over 29MM episodes. This equates to approximately 1.3B audio minutes of content.
According to Edison Research, there were approximately 144MM US listeners that have at least listened to a podcast.
Over the last month, roughly 32% of the US population, or 90MM people listened to a podcast. Last week, it is estimated the 62MM people within the US listened to a podcast.
On average, a listener within the US listened to 7 podcasts last week.
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