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Podcasts have become immensely popular over the past years, drawing millions of users worldwide. Today, the global podcast user base has swelled to more than 460 million, turning podcasts into an emerging medium for advertising. The five-year ad spending figures confirm that.
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According to data presented by OnyAccounts.io, marketers and advertisers have collectively spent more than $15 billion on podcast ads in the past five years.
Annual Ad Spending Increased Fourfold Since 2019
Podcast popularity soared during the pandemic years, helping the format earn a deserved spot among other established media. Five years later, the entire market continues growing with no sign of stopping soon.
Today, more than 460 million people worldwide listen to podcasts, and this massive, mostly young, educated, and high-income audience has become highly attractive to advertisers and brands, especially smaller ones seeking to reach a particular target group. The amount of money brands and marketers have poured into podcast ads has soared over the past five years, and the Statista Market insights survey shows precisely how much.
Money poured into podcast ads soaring
In 2019, the global podcast ad spending hit over $1 billion for the first time, with the market counting roughly 205 million users. A year later, nearly 80 million new users flocked into the market, while the total ad spending jumped to $1.5 billion. The impressive growth has continued ever since.
Statistics show that more than 335 million people worldwide listened to podcasts in 2021, while total ad spending climbed to $2.15 billion. Â Although market growth has slowed down in the past three years, the global podcast user base still swelled to 462 million, with brands and marketers now spending over $4 billion on podcast ads, or four times more than back in 2019.
Podcast Ad Spending to Grow by an Average of $400 Million per Year and hit $5 Billion by 2027
Although ad spending growth is expected to continue slowing down in the following years, with the annual growth rate falling from 16% in 2024 to 5% in 2027, the market projections for the following years are still quite optimistic.
Global spending on podcast ads to hit over $5 billion by 2027
Statista expects global spending on podcast ads to grow by an average of $400 million annually and hit over $5 billion by 2027. Over 65% of that value will come from the world`s largest podcast advertising industry, the United States. The US market is expected to hit $3.3 billion in total ad spending by 2027, or 30% more than this year.
Far below, China follows with roughly half a billion dollars in podcast ad spending by 2027, or 13% more than this year. All other top podcast advertising markets, like Japan, India, and Brazil, will see less than $100 million in total ad spending.
The number of users will also surge, with 616 million people listening to podcasts in 2027, or 190 more than this year.
The full story and statistics can be found here:Â https://onlyaccounts.io/blog/five-year-spending-on-podcast-ads-hits-over-15-billion/
