It’s no exaggeration to say that the podcast market is booming. Figures from Edison Research suggest that 68m people listen to podcasts each week in the US, while IAB UK puts the weekly figure for UK listeners at 8m. AdsWizz’s own data shows global podcast advertising has grown 44% from January to June 2020.
Listening habits are increasingly directed to podcasts, which can be enjoyed on-demand, at whatever time the listener chooses. And because the listener makes an active choice to seek out and listen to the podcast, the podcast audience is much more engaged with the content than the average, passive listener. It’s worth noting too that the audience for podcasts is much sought-after by advertisers, skewing towards well-educated and affluent.
All of these factors have led to parallel growth in the podcast advertising market. Podcasts are the fastest-growing audio channel, growing at a rate of 35% year-on-year, with the medium expected to generate over €50m (£45.5m) in ad revenues this year in Europe. The UK leads the way, but Germany, Italy and France are growing fast.