Podcast U.S. Ad Revenue Projected to Hit $2.3 Billion in 2023, up 43% | instastori.com

Listen up! While podcast advertizing gross remains comparatively small, it’s increasing quickly — and poised for a beardown double-digit summation this year, contempt economical headwinds.

In 2023, U.S. podcast advertisement gross is expected to full $2.28 billion, up 43% twelvemonth complete year, according to caller investigation conducted by PwC for nan Internet Advertising Bureau (IAB). Last year, nan conception accrued 26%, to deed $1.8 billion. By 2025, podcast advertizing gross successful nan U.S. is projected to scope astir $4 billion.

Overall, podcasting continues to beryllium 1 of nan fastest-growing integer channels, increasing 2 times faster than integer advertizing wide — though for 2022 it remained little than 1% of nan full pastry (which PwC pegged astatine $209.7 billion).

One absorbing uncovering from nan report: In 2022, news podcasts dropped their stock of full advertisement gross — knocking it retired of nan No. 1 spot by genre. Sports (15%), nine and civilization (14%) and drama (14%) were nan apical revenue-generating contented genres past year, arsenic news and governmental sentiment contented saw stock driblet from 19% to 12%.

Last year, “in-person sports, manner events and in-store shopping person travel backmost successful a large way, taking nan lead from news which held nan apical gross genre spot since 2018,” said Eric John, VP, media center, astatine IAB. “Both wide and niche advertisers for illustration nan audiences, targeting and ROI on pinch nan brand-safe and suitable environments that podcasting offers.”

For nan study (available astatine this link), PwC fielded a quantitative online study to “leading podcast manufacture experts” successful February 2023. As successful past years, that coincided pinch nan firm’s podcast advertizing market-sizing to estimate nan U.S. marketplace inclusive of companies that didn’t participate successful nan survey.

IAB’s “U.S. Podcast Advertising 2022 Revenue & 2023-2025 Growth Projections” study was released May 11 during nan waste and acquisition group’s podcast upfront event.