Global Podcast Advertising Market 2023-2030

Global Podcast Advertising Market 2023-2030

Global Podcast Advertising Market Size, Share & Trends Analysis Report by Advertisement Type (Pre-Rolls Ads, Host-Read Ads and Supplied Ads), by Campaign Type (Brand Awareness Ad, Direct Response Ad and Branded Content), and by End Users (BFSI, Media & Entertainment, Retail, IT & Telecommunication, Healthcare, Automotive, Travel and Tourism and Food & Beverages), Forecast Period (2023-2030)

The global podcast advertising market is anticipated to grow at a CAGR of 9.8% during the forecast period (2023-2030). Podcast advertising is a marketing activity that can help reach out to potential customers and encourage them to buy products or services. The growing adoption of prioritizing data and tracking in the podcast industry is the key factor supporting the growth of the market globally. Podcast analytics and audience insights tool created a new prefix to provide brands and agencies with enhanced podcast audience and performance data. Hence, the market players are also focusing on introducing podcast audience and performance data solutions that further bolster the market growth. For instance, in October 2023, CoHost launched its prefix that aims to demystify podcast audiences for brands and agencies. Brands and agencies can enable the data made available by CoHost without changing hosting and distribution providers.

Segmental Outlook

The global podcast advertising market is segmented on the advertisement type, campaign type, and end users. Based on the advertisement type, the market is sub-segmented into pre-roll Ads, host-read Ads and supplied Ads. Based on the campaign type, the market is sub-segmented into brand awareness Ads, direct response Ads and branded content. Further, on the basis of end users, the market is sub-segmented into BFSI, media & entertainment, retail, IT & telecommunication, healthcare, automotive, travel and tourism and food & beverages. Among the end users, the media & entertainment sub-segment is anticipated to hold a considerable share of the market owing to the rise in the development of podcast advertising that offers brands the opportunity to partner with hosts and brand fans and earn the trust of their listeners.

The Branded Content Sub-Segment is Anticipated to Hold a Considerable Share of the Global Podcast Advertising Market

Among the campaign types, the Branded Content sub-segment is expected to hold a considerable share of the global podcast advertising market. The segmental growth is attributed to the growing influence of the podcast as a brand to create an amazing, well-crafted show that delivers a tone of authentic value to listeners. Podcaster, network, brand and agency dynamic pricing in order to be available for anyone to improve their podcast advertising experience. For instance, in August 2023, LiveRead.io launched its pioneering order management ad-tech platform for podcast creators and networks, brands, and advertising agencies. The software integrates a number of processes into a centralized database to simplify every aspect of video and audio podcast advertising thus boosting efficiency, lowering operating costs and reducing errors.

Regional Outlook

The global Podcast Advertising market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America. Among these, Asia-Pacific is anticipated to hold a prominent share of the market across the globe, owing to the adoption of tends to resonate better with listeners and can lead to higher engagement and conversion rates for advertisers.

The North America Region is Expected to Grow at a Significant CAGR in the Global Podcast Advertising Market

Among all regions, the North America regions is anticipated to grow at a considerable CAGR over the forecast period. Regional growth is attributed to rapid adoption of modern technology as well as a mature audience base. The growing availability of digital content is driving increased podcast consumption. Advertisers are capitalizing on this trend by tailoring content to local preferences, creating a more engaging experience for listeners. The convenience of on-the-go listening and strategic partnerships between content platforms and advertisers are further catalyzing the growth of podcast advertising in the region. The key market player include AdLarge Media, AdvertiseCast, LLC, Midroll Media, Podcorn, Stitcher and others.

According to the US Podcast Advertising Revenue Study, in 2023, Daily podcasts have a lower share of the total number of podcasts compared to their share of revenue, reflecting the greater number of episodes and higher CPMs. podcasts compared to their share of revenue Dailies 23.0%, Weeklies or Bi-weeklies 70.0%, Monthlies 1.0%, Seasonal 3.0%, and Limited Run Series 3.0%

The increasing usage of programmatic ad buying and selling is an emerging trend in podcast advertising. This automated approach allows advertisers to target specific audiences with personalized ads at a scale, streamlining the ad placement process for increased efficiency and effectiveness. For instance, in July 2023, Veritonic, Inc., and Acast joined forces to conduct extensive research on programmatic podcast advertising. This collaboration highlights the industry's focus on exploring and understanding the potential of programmatic ad strategies in the podcasting space.

Market Players Outlook

The major companies serving the podcast advertising market include Acast, Audioboom Group plc, Sirius XM Radio Inc., Spotify AB, Veritone One, Inc., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in September 2023, ABC Audio announced an exclusive multiyear podcast advertising partnership with Libsyn's AdvertiseCast. The industry’s premier podcast advertising marketplace connecting ad buyers and content creators. This strategic partnership positions ABC Audio’s award-winning podcast portfolio for continued growth.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global podcast advertising market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.