As podcasts have become increasingly popular in recent years, it was only a matter of time before advertisers noticed the trend and jumped on board. Podcasts have become a great alternative to other media, especially for smaller brands seeking to reach a specific target group, because they offer a highly attractive target audience – young, educated, high-income – as well as high trust scores.
Global podcast ad expenditure doubled between 2017 and 2021, according to Advertising & Media Outlook, breaking the billion-dollar mark for the first time in 2019. Analysts at Statista predict that global podcast ad expenditure will exceed $2.8 billion this year, with no end in sight.
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