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Podcast Advertising - North America

North America

The Podcast Advertising market in North America is forecasted to achieve a revenue of US$2.69bn by 2024.
This projection indicates an annual growth rate of 8.86% (CAGR 2024-2027), resulting in a market volume of US$3.47bn by 2027.
Moreover, the number of users in the Podcast Advertising market is expected to reach 114.4m users by 2027.
It is important to note that user penetration is expected to be 0.00 in 2024 and is projected to remain at 0.00 by 2027.
In comparison to other countries worldwide, United States will generate the highest revenue, with an estimated US$2,570,000.00k in 2024.
Additionally, the average revenue per user (ARPU) in the Podcast Advertising market is projected to be US$30.45 in 2024.
Podcast advertising in North America has seen a significant surge in recent years, with a growing number of companies leveraging this medium to reach their target audience.

Key regions: Japan, United Kingdom, Europe, China, South Korea

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Analyst Opinion

Podcast advertising has been growing rapidly in recent years, and several trends are emerging that are shaping the industry. One of the most notable trends is the increasing use of host-read ads, which are ads that are read by the podcast host themselves. These ads tend to be more effective and engaging than traditional pre-recorded ads, as they feel more natural and authentic. Another trend is the rise of programmatic advertising, which uses algorithms to automate the buying and placement of podcast ads.

Podcast advertising has seen strong growth in recent years, driven by several factors. One key factor is the increasing popularity of podcasts as a medium for consuming audio content. With more people tuning in to podcasts on a regular basis, there is a growing audience for advertisers to reach. Additionally, podcast advertising offers several advantages over traditional forms of advertising, such as radio and TV. Podcast ads are often more engaging and targeted, as they can be tailored to specific audiences based on their interests and listening habits. Another growth factor is the increasing sophistication of podcast technology, which has made it easier and more cost-effective for producers to create high-quality content and for advertisers to reach their target audience. Finally, the COVID-19 pandemic has accelerated the shift towards digital media, including podcasts, as more people spend time at home and seek out new forms of entertainment.

Methodology

Data coverage:

Data encompasses enterprises (B2B). Figures are based on podcast advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers podcast streaming ads.

Modeling approach:

market size is determined by a combined top-down and bottom-up approach. We use annual financial reports of the market-leading companies and industry associations, third-party reports, web traffic, and survey results from our primary research (e.g., Statista Global Consumer Survey) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP, internet users, consumer spending, and digital consumer spending.

Forecasts:

We use a variety of forecasting techniques, depending on the behavior of the market. For instance, the S-curve function is well suited to forecast digital products due to the non-linear growth of technology adoption, whereas exponential trend smoothing (ETS) is more suited for projecting steady growth in traditional advertising markets.

Additional notes:

Data is modeled using current exchange rates. The impacts of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice per year in case market dynamics change.