Podcast advertising to surpass $1 billion by 2021
By Cassie Scher
At Nahigian Strategies, we’ve long suggested a ‘digital-first’ approach for tackling issues and sharing your story. People are moving away from consuming their news from traditional sources, and are now getting information through podcasts, radio, and social media. The rise of people creating their own content has been unprecedented.
These trends are one of the reasons we’re excited to launch Big Whig Media this Fall – to allow our clients, or anybody with a compelling story to share, to have a location to create high quality content.
According to an eMarketer report, podcasting revenues will surpass $1 billion by 2021. Read their article on the trends below.
By: Amy He
The podcasting industry continues to explode with potential for advertisers, and the numbers show it: Marketers spent $479 million on podcast ads in 2018, and podcast advertising revenues are projected to surpass $1 billion by 2021, according to figures from the Interactive Advertising Bureau (IAB) and PwC.
In an analysis of the US podcast advertising industry, IAB and PwC calculated self-reported podcast advertising revenues from 22 companies and found that revenues grew 34% in 2018, compared with the $257.4 million in self-reported revenues in 2017. The IAB and PwC predict that revenues will grow 42% this year.