PodcastOne (Nasdaq: PODC) Delivers Record Programmatic Revenue in Company History In Q2 Fiscal Year 2024
PodcastOne (NASDAQ: PODC), a leading podcast platform and a subsidiary of LiveOne (NASDAQ: LVO), which owns ~80% of the PODC common stock, announced today the highest programmatic revenue in company history for the second fiscal quarter of its fiscal year ending March 31, 2024 (“Q2 Fiscal Year 2024”), 121% growth over the same period last year. Q2 Fiscal Year 2024 programmatic revenue also grew compared to the previous quarter, which had ranked as the company’s previous highest quarterly benchmark. As touted by MediaRadar, programmatic advertising is an emerging trend in podcast monetization. PodcastOne’s growth percentages put the company well in front of this soon-to-be industry-wide revenue trend.
Leveraging Adswizz’s ad serving technology, the industry wide shift and growth in programmatic advertising and PodcastOne’s expansive, premium inventory of highly sought after hosted podcasts, such as The Fighter & The Kid, The Adam Carolla Podcast,Cold Case Files, Coffee Convos and Off The Vine with Kaitlyn Bristowe, PodcastOne was able to deliver over 229 Million programmatic impressions for Q2 Fiscal Year 2024 an increase in impressions of 79% from the same period last year. PodcastOneis also celebrating its highest average programmatic CPM in Q2 Fiscal Year 2024, marking a 24% growth from the same period last year. PodcastOne’s fiscal year concludes March 31, 2024.
“The growth of programmatic advertising across the audio industry represents the maturation of podcasting as both a culturalmedium and an advertising strategy. Like display, video, or CTV, it has proven to be an efficient, effective, and scalable strategy trusted by listeners and advertisers alike. As a network that’s leveraged programmatic for more than four years, our growth and momentum is credited to the appeal of our programming, the successful relationships with our programmatic partners, and the collaboration across the industry to educate and evolve programmatic audio,” said Ellie Andrews, Director of Digital Operationsfor PodcastOne.
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“In 2024 the podcast industry is poised to have over half a billion listeners with almost 50% of Americans admitting that they listen to podcasts. Time and time again it has been proven that advertisers can most effectively with cost efficiency reach consumers through our medium of podcasting. Our growth and forward momentum is credited to the strength and appeal of our programming with consumers and our sales team’s ability to capitalize on long standing relationships, creating new avenues of success for brands and our hosts,” said Kit Gray, President and Co-Founder of PodcastOne.
PodcastOne’s full roster of top ranked podcasts includes programming across top genres such as news, comedy, true crime and society and culture, including shows such as Bad Bad Thing, True Crime All The Time Unsolved, The Prosecutors, Court Junkie, Cold Case Files, The Jordan Harbinger Show, Baby Mamas No Drama, LadyGang, and The Schaub Show. PodcastOne shows are available through PodcastOne, Apple Podcasts, Spotify, iHeart, Amazon and wherever podcasts are heard.
This is a press release which we link to from Podnews, our daily newsletter about podcasting and on-demand. We may make small edits for editorial reasons.