Comedy Podcasts, Led by ‘The Joe Rogan Experience,’ Gained Ad Market Share in 2023 as Overall U.S. Spending Cooled
variety.comTodd Spangler NY Digital Editor Podcast ad revenue in the U.S. — after seven years of double-digit growth — hit a slowdown in 2023, with overall spending increasing 5% to $1.93 billion, according to a new report.
The tepid growth in podcast ad spending last year came amid a “challenging advertising climate” that disproportionately affected mid-tier companies, according to research conducted by PwC for the Interactive Advertising Bureau (IAB).
The 2023 revenue number was well off the previous forecast. Still, there’s optimism for a bounce-back. In 2024, the U.S. podcast ad market is projected to return to double-digit growth, increasing 12% to $2.16 billion, per the PwC/IAB study.
Further developments in programmatic ad buying, along with new revenue streams from video and live events, are expected to help drive growth.
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