According to a new report by Interactive Advertising Bureau (IAB), podcast advertising revenue has gone up by 53 percent in 2018 to $479.1 million.
The study, carried out by PricewaterhouseCoopers, used survey data of different advertising companies which specialize in podcast advertising. PwC received data from 22 companies with corresponds to an advertising revenue of $344.7 million. The firm then extrapolated the data to come up with the final figure.
This latest report shouldn’t come off as a surprise given the advertising market for podcasts are growing at a significant rate over last couple of years. IAB reports that the total estimated revenue from podcasts will reach over $678 million this year and surpass $1 billion mark by 2021.