KENT, England – The podcasting world has recorded significant growth in recent months, with more consumers showing interest in different genres. The growth is now reflecting on the revenue side as more advertisers aim to capitalize on the sector.
Data acquired by Finbold indicates that the United States podcast advertising revenue is projected to surpass the $1 billion mark for the first time in 2021 to hit $1.34 billion. The figure represents a growth of 59.9% from the $842.3 million revenue recorded last year. By 2022, the revenue is projected to hit $1.7 billion. As of 2023, the sector’s ad revenue is projected to hit $2.18 billion, a growth of 64.70 percent from the 2021 projection.
Elsewhere, the news segment remains the most profitable genre recording a revenue share of 22% both in 2019 and 2020. Comedy ranks second, although the 2020 revenue share slightly dropped to 16% from 17% in 2019. Despite the focus in the financial sector over the past year, business and finance podcasts revenue share also plunged in 2020 to 9 percent from 11 percent.