In fact, about half of the respondents found most of the ads on their podcasts engaging, enjoyable and relevant. The favourable ad experience and seamless incorporation advertisers have managed to achieve on people’s favourite podcasts lead about half of the respondents to go out of their way to support brands that advertise on these programmes.
While podcast listeners are willing to sit through advertisements, podcasts have not been able to make significant revenue from advertising on podcasts, despite the audience that the medium draws. A study published by Edison Research estimates that 73 million people tune in monthly to podcasts, putting it on par with streaming music listeners. While a similar number of people listen to podcasts and stream music, PwC estimates that podcasts made about US$400 million in 2018 from ads, while ad-based streaming music made well over a billion dollars.
As podcasts find their footing and leaders in the industry turn to monetisation, advertising on podcasts will grow in the future.
Download the chart here.
Chart by Statista
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