Thursday, June 8, 2023

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    Podcasters focus on expansion and reach despite slower ad revenue growth at upfronts

    Despite the challenges bringing the boom of podcasting back down to the Earth, podcast networks and advertising platforms were optimistic about the continued growth of the medium in their presentations to marketers at the IAB’s annual Podcast Upfront held in New York City on Thursday. 

    As podcast networks and platforms announced new shows and measurement tools and shared stats on how ads have led to lifts in brand awareness, they continued to push marketers to spend more money in the medium, which they argue isn’t getting enough ad spend relative to the growth and listenership in audio.

    “Today, two out of every three people have listened to a podcast. And young people in the U.S. are spending nearly as much time with podcasting as they are with linear TV,” said Jeanine Wright, COO and gm at Wondery. “That’s why podcasts can no longer be an experimental bucket of your annual spend. They are now a must-buy for advertisers looking for premium content at scale.”

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