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US podcast ad revenue growth slowed in 2023

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  • Breaking: A slow-down at mid-tier companies has resulted in US podcast ad revenue growing 5% in 2023, according to the eighth annual US Podcast Advertising Revenue Study from the IAB and PwC, published minutes ago. The figure hit $1.9bn, missing a widely-expected $2bn figure; growth was out-paced by digital overall (+7.3%).

    • Comedy, Sports and News were the three highest genres for revenue, the study says, with comedy taking 17% of all ad revenue.
    • The study notes that more than a quarter of total podcasting revenue was in niche categories, showing that diversity remains a key strength of podcasting.
    • The IAB predicts a market of $2.6bn by 2026; though predictions are hard - previous IAB predictions for 2023 revenue were $2.2bn (predicted in mid-2021); $3.1bn (predicted in mid-2022); and $2.3bn (predicted in mid-2023).
  • iHeartMedia reported its Q1/24 financial results. Podcast revenue was up 18% year-on-year to $91mn, 11.3% of the company’s overall revenue.

  • Bandrew Scott reviews the Shure MV7+ microphone.

  • HigherEdPods is a new directory of podcasts about higher education.

  • D’you make podcasts about the paranormal? The ParaPod Podcast Awards have returned for a second year, with an expanded category list. You can enter now.

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  • In the UK, Essex-based Studio 808 announced a Podcast Kickstarter programme for aspiring podcasters.

  • Mumbler, a podcast hosting and monetisation platform, has launched full support of transcripts. The transcripts, in 85 languages, are visible in apps like Apple Podcasts and PodcastAddict, and uses the Podcasting2.0 podcast:transcript standard.

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Companies mentioned above:
Airwave logoAirwaveApple logoAppleApple Podcasts logoApple PodcastsAudacy logoAudacyAusha logoAushaBumper logoBumperIAB logoIABiHeartMedia logoiHeartMediaRedCircle logoRedCircleShure logoShureYouTube logoYouTube

Podcast data for May 9

#1 in Apple Podcasts
US flag Blood is Thicker: The Hargan Family Killings (CBS News)
DK flag Third Ear (Third Ear)

#1 in Spotify
US flag The Joe Rogan Experience (Joe Rogan)
DK flag Third Ear (Third Ear)

Over the last week, 206,744 podcasts published at least one new episode (down 1.2%). source

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