The U.S. podcast advertising
marketplace is on pace to top $1 billion in the next year, according to the first-ever estimates released by eMarketer this 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.
2020's hiccup, eMarketer projects U.S. podcast advertising will surge 44.9% to $1.1 billion in 2021.
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