The Interactive Advertising Bureau predicts the podcast industry’s annual revenue will exceed $1 billion in 2021. “Video has gotten much of the attention, but digital audio has also grown during the pandemic. In 2021, podcasting will be a $1 billion market,” the IAB said in its latest annual report. Podcast advertising has been deemed “pandemic-proof,” and the IAB estimates that podcast revenue grew 14.7% in 2020, despite a “slight downturn” in podcast ad spend in 2020.
Despite 2020’s challenges, it was “a year of incredible resilience and growth for the digital media ecosystem,” the IAB said, and digital audio now accounts for 65% of all advertising spending. “The race to digital is accelerating—and digital is now the primary means to acquire, engage, and deliver consumers,” the IAB said.
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