Total US ad spend on podcasts was $1.9 billion last year, up 5% compared to 2022. But that growth rate is disappointing considering podcast revenue had been growing by double digits since 2015. It grew a whopping 72% in 2021 - when the market eclipsed $1 billion for the first time - and by 26% in 2022.
Podcasting also lagged behind overall digital advertising revenue, which grew 7.3% last year.
The IAB blames a relatively soft ad market and says losses among mid-tier podcasting companies offset double-digit gains by the larger platforms.
Inactivity is one of the main reasons why subscribers cancel their accounts, and a fancy new bundle deal isn't going to change that, Shapiro writes.
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