US podcast ad revenues grew 26% in 2022
The US podcast ad market is now worth $1.8bn, according to new data from the IAB and PWC. Revenue grew 26% last year, twice as fast as total internet ad revenue: however, the company saw a significant slow-down in Q4/22. News has also dropped from its place as the top genre for ad revenue: the sports category is now #1, with a 15% share. The IAB predicts the market will be $3.9bn by 2025.IAB 🇺🇸
- Thanks to our supporters, we’ve updated our podcast market data slides.
Among the other announcements at the IAB Podcast Upfronts in New York NY, USA: Sony Music Entertainment announced a growing slate including the addition of Getting Curious with Jonathan Van Ness to its network (from Earwolf/SiriusXM) … and Wondery and Bloomberg announced a mini-series focusing on the FTX crypto scandal, and Sam Bankman-Fried’s part in it. (Available “on Wondery+ and the Bloomberg Terminal” from May 22).IAB 🇺🇸
Data: In the UK, RAJAR released the Spring 2023 MIDAS Report, which measures multiplatform audio. The number of people listening to podcasts each week has doubled in the past five years (from 11% to 22.8% of the population) - but the time spent listening to podcasts has increased further, up by more than 2.3x.
- 80% of podcast listeners in the country listen to between one and three episodes a week, the research reveals: and just 1% of all audio played on smart speakers is a podcast.
- Spotify 🇸🇪
Apple 🇺🇸 Apple Podcasts 🇺🇸
French audio monetisation and distribution company Audion has acquired the Italian audio production company Mentre.Mentre 🇮🇹
UK podcast production company Mags Creative is celebrating its tenth anniversary this week.
UCL is offering 10 scholarships to students with links to East London who want to study a Master’s degree in audio storytelling. The scholarships cover tuition fees and a living allowance.
Podcast Launch Agency and AppSumo will put on a free 12 hour live event on Monday featuring a new industry leader every 30 minutes. Our Editor is speaking, along with leaders from AppSumo, Podopolo, Capsho, Podbean and others: find out what tools they are using, how they are leveraging AI and Web3 to engage new audiences and get access to a thriving community of experts helping each other succeed.
In the Podcast Business Journal later, Ben Richardson from RSS.com on the company’s plans for Mexico, and doing business there. “In Mexico, there’s a lot more of a personal touch and relationships take a little bit longer to build - but once they’re built, they’re really strong,” he says. You can subscribe free.
Podcast data for May 12
- #1 in Apple Podcasts: US: CounterClock (audiochuck) IE: The Kinahans (The Irish Sun)
- #1 in Spotify: US: The Joe Rogan Experience (Joe Rogan) IE: Finding Samantha - Doc On One (RTÉ Documentary on One)
- Over the last week, 216,481 podcasts published at least one new episode. See more podcast data at the Podcast Business Journal.
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