The U.S. podcast advertising marketplace is on pace to top $1 billion in the next year, according to Mediapost citing estimates released by eMarketer Tuesday morning.
“Growth in podcast advertising spend will be more resilient this year relative to digital radio advertising as a whole, which will see double-digit declines,” eMarketer's Insider Intelligence Forecasting Director Shelleen Shum noted, adding, “The continued growth in podcast advertising is no surprise, as investments have made podcasts accessible to a wider audience.
Despite the fact that some podcast ad campaigns were poised during the first half due to the COVID-19 pandemic, Shum said eMarketer expects the market to "rebound" in the third and fourth quarters with total 2020 spending rising 10.4% to $782 million.
Following 2020's hiccup, eMarketer projects U.S. podcast advertising will surge 44.9% to $1.1 billion in 2021.
The ad growth projections mirror a corresponding expansion in the listener base of podcasts, which will top 50% of the share of digital audio listeners in the U.S. this year, according to eMarketer's estimates.
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