Rising podcast listenership draws advertising dollars

The trend: Podcast listening is up, and advertisers are taking notice. US podcast ad spending is rising at double-digit percentage rates yearly and will top $2 billion next year and reach $3 billion by 2026.

• Last year, the number of brands buying podcast ads rose 14 percent, according to MediaRadar. Brands in technology, media, and finance spent the most on podcast ads in 2021.
• This year, more than half of advertisers are looking to increase their podcast ad budgets, according to a 2021 poll of 255 US advertisers by Advertiser Perceptions.

Spotify gaining volume: Of the two podcast platforms we track listeners for, Spotify is expected to steadily increase its audience each year through 2026, while Apple listenership will be roughly flat during that time. Spotify has made a number of acquisitions to expand its podcast business.

Taking time out: Consumers are increasing the amount of time they listen to podcasts. This year, we estimate time spent with podcasts among US adults will rise 15.1%.

Go further: For more on podcast listening and advertising trends, read our report.