WWO: Podcast Advertising Hits 12-Year High
Today’s blog post from Cumulus Media | Westwood One’s Audio Active Group looks at the 12-year trend of podcast advertising. The post notes that in advance of the first IAB Podcast Upfront in 2015, Cumulus commissioned Advertiser Perceptions to study agency and brand sentiment on podcast advertising. The most recent, conducted last month with 300 marketers and media 
agencies, reveals advertiser/agency podcasting discussion and spending intention has hit a 12-year high. Some of the key takeaways include: 1) Nine out of 10 marketers and media agencies say they have discussed podcast advertising for potential investment; 2) Podcast advertising consideration surges to a 12-year high: 75% of brands and agencies say they are likely to consider advertising in podcasts; 3) Podcast spending intention jumps to 74%, a 12-year record; 4) 76% of agencies and advertisers currently advertise in podcasts, a 5X increase since the first IAB podcast upfront in 2015; and 5) “Arnie Semsky’s 5% solution”: It is time for brands to get serious and allocate 5% of digital budgets to podcasting. See the full blog post here.
revenue increased $47.7 million, or 14.1%, driven primarily by continuing increases in demand for digital and podcast advertising, as well as increased non-cash trade revenue resulting from strategic marketing initiatives. Multiplatform Group revenue decreased $19.2 million, or 2.8%, primarily resulting from lower political revenues, as 2024 was a presidential election year, as well as a decrease in broadcast advertising in connection with continued uncertain market conditions.
increasing 19.2% YoY to $62.1 billion, now accounting for 24% of total ad revenue, and that Podcast advertising revenues show a strong YoY growth of 26.4%, a significant acceleration from 5.5% last year. IAB adds, “This growth was fueled by shifting consumer media habits, with cord-cutting driving greater engagement with on-demand audio, and podcasts emerging as a key platform for political advertisers seeking to connect with voters ahead of the election.” Overall, digital audio – including podcasting – has continued to grow, earning $7.6 billion in revenue with an 8.5% YoY growth from FY23 which is a slowdown in growth compared to last year’s 18.9% rate. Podcasting however saw 
PricewaterhouseCoopers LLP, “quantifies annual podcast advertising revenues generated over the past year, analyzes revenue share by ad category and content genre, and forecasts future revenues through 2025.” The study says the top revenue-generating content genres are Sports (15%), Society & Culture (14%), and Comedy (14%) and have taken the lead from News and Political Opinion content (down from 19% to 12%). IAB VP, media center Eric John says, “In-person sports, lifestyle events, and in-store shopping have come back in a big way, taking the lead from news which held the top revenue genre spot since 2018. Podcasting revenue naturally reflects that shift in consumer behavior and it will be interesting to watch how the balance changes going forward.” He adds, “Both mass and niche advertisers like the audiences, targeting, and ROI along with the brand-safe and suitable environments that podcasting offers.” 