Advertising spending in podcasts predicted to triple by 2027

A recent Acast study has found that 65% of US marketers expect podcast advertising spend to triple by 2027. 

The study was conducted to understand the overall knowledge and sentiment that US marketers and advertisers have towards programmatic advertising, and incidentally, it revealed a large gap in the general understanding.

Only 42% of US marketers said they have a good understanding of programmatic advertising, and only 39% of respondents could correctly define programmatic ad buying, yet nearly 60% have bought ads programmatically before.

“Podcast advertising and programmatic ad buying are in this moment of simultaneous, rapid growth, yet there are still so many myths and misunderstandings about both held by media buyers,” said Global Head of Ad Innovation at Acast Elli Dimitroulakos. 

“As the first study that looks specifically at programmatic ad buying in podcasting, this research enables Acast to better meet the needs of advertisers by first understanding – and filling – the knowledge gaps that are so prevalent in the industry.”

The survey found that 84% of respondents said that podcasts currently have low ad loads, which was higher than all other tested mediums, while 65% of respondents expect to increase their marketing spend on podcasts. 

When considering marketers who have previously purchased podcast ads, 83% expect to increase their spending on the medium year-on-year.

Interestingly, over half prefer to book advertising campaigns through self-service tools.