Podcast Advertising at Nine-Year High Among Marketers

RADIO ONLINE | Monday, August 21, 2023

Cumulus Media

In advance of the first IAB Podcast Upfront in 2015, the Cumulus Media | Westwood One Audio Active Group commissioned Advertiser Perceptions to study agency and brand sentiment on podcast advertising. For the last nine years, the study has been reprised annually to track buy-side podcast advertising consideration and intention. The latest study, conducted in June, 2023 with 302 marketers and media agencies, reveals advertiser/agency interest in podcasting has reached a nine-year high.

The results are outlined in this week's Cumulus blog:

• Agency/advertiser investment interest is significant at every stage of the podcast ad purchase funnel; Spending intention has grown 6X since 2015, according to Advertiser Perceptions

• Eight out of ten marketers and media agencies say they have discussed podcast advertising for potential media investment

• Podcast advertising consideration surges to a nine-year high: 62% of brand and agencies say they are likely to consider advertising in podcasts

• Podcast spending intention jumps to 58%, a nine-year record

• Nearly 60% of agencies and advertisers currently advertise in podcasts, a nearly 4X increase since the first IAB podcast upfront in 2015

• "Arnie Semsky's 5% solution": It is time for brands to get serious and allocate 5% of digital budgets to podcasting