The global podcast advertising market could reach $1.6bn by 2022, according to market intelligence firm Warc. This would represent 4.5% of worldwide audio advertising investment, compared to the $885m forecast to be spent this year. Podcast advertising is a relatively new business in Europe, but it has been growing rapidly over recent years. The world’s largest music streaming service recently acquired three podcast firms: Figures also suggest that 78% of listeners understand the need for sponsorship to support the content they enjoy, and research from Nielsen found 62% of listeners correctly recall the adverts they hear.
The global podcast advertising market could reach $1.6bn by 2022, according to market intelligence firm Warc. This would represent 4.5% of worldwide audio advertising investment, compared to the $885m forecast to be spent this year. Podcast advertising is a relatively new business in Europe, but it has been growing rapidly over recent years. Figures also suggest that 78% of listeners understand the need for sponsorship to support the content they enjoy, and research from Nielsen found 62% of listeners correctly recall the adverts they hear.