IAB held its first annual Podcast Upfront showcase in September 2015, hosting an audience of marketers and media buyers interested in learning more about the “power of podcasts as a valuable platform to reach consumers.” In recognition of the platform’s growth as an important and emerging marketing medium, a formal, data-driven revenue analysis needed to be executed. Industry estimates existed; but, the range in published estimates was too wide to be reliable. IAB’s podcast group met and a sub-group of members elected to sponsor a study to properly assess the potential for advertising revenue across the industry. PwC was engaged in March 2017 to conduct a study by directly surveying the industry’s significant revenue generators.
Over 11 weeks, PwC performed a market scan, conducted three discovery interviews, facilitated a working session with IAB’s audio working group, and surveyed 20 of the largest podcast advertising companies to generate the findings presented here.
The IAB Podcast Advertising Revenue Study is part of an ongoing IAB mission to provide an accurate barometer of podcast advertising growth. To achieve differentiation from existing estimates and accomplish industry-wide acceptance, key aspects of the survey include:
- Obtaining historical data directly from companies generating internet (publishers and advertising networks) advertising revenues;
- Making the survey as inclusive as possible, encompassing significant forms of podcast advertising; and
- Establishing and maintaining a confidential process, only releasing aggregate data.