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- 🚀Government and Tech Lead Highest-Paying Podcast Ad Categories, Libsyn Data Shows
🚀Government and Tech Lead Highest-Paying Podcast Ad Categories, Libsyn Data Shows
Podwires Team
October 02, 2024
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A world of deepfakes and questions about AI-generated content finds its saving grace in podcasting, which seems to suggest credibility and authenticity. Libsyn, one of the leading podcast hosting and advertising networks, has released their September 2024 Podcast Advertising Rates and finds a strong market for monetizing audio content.
As per Libsyn's September 2024 Podcast Advertising Rates, the average remains consistent at $21.37 for a 60-second ad spot, continuing to position podcasting as one of the premier channels for brands seeking premium value in the engagement and loyalty of audiences. Under the new deal, Barometer further reinforces Libsyn's commitment to brand safety and ushers in real-time content verification. This new approach promises to better the way advertisers handle podcast sponsorships by making sure that ads match up with appropriate content in real time.
This report gives an overview of the current state of podcast advertising, relying heavily on the credibility of podcast advertising among a rising tide of AI-generated content and deepfakes. It shares various CPMs for categories and a new partnership by Libsyn with Barometer to give a better brand safety solution.
The key points:
CPM, Average for a 60-second ad spot in September 2024: $21.37
The top three categories with the highest CPM are: Government at $31, Technology at $29, Health & Fitness at $24
More approachable CPM categories for marketers include Kids & Family, Sports, and History
Libsyn has a partnership with Barometer for real-time brand suitability verification
More than 75,000 shows call Libsyn home, with Libsyn delivering more than 8 billion downloads globally
Why it matters: Podcasting is fast gaining prominence as one of the prime mediums for product and service promotion due to its imposing effective field of reach. With the growing apprehension over illegitimate Internet content, podcasts are viewed as sources of trust for information. This report shows that advertising on podcasts is not a waste, with prices remaining stable. It also spells out how platforms hosting podcasts, such as Libsyn, ensure that ads come up with appropriate content so that the medium can be somewhat safe and inviting for brand advertising investment.
Our Analogy: Podcast advertising is like placing an ad in your favorite local newspaper. As readers trust their local paper to get the news right, similarly, podcast listeners trust their favorite shows. Now, imagine the newspaper had an entire team that vetted each story to make sure the values of every one of its advertisers matched up with the ad adjacent to it. That is what Libsyn is trying to do at scale with podcasts: making sure ads run against content that best matches the advertiser's brand-a sort of print analogy, wherein one wouldn't want a family-friendly ad awkwardly placed next to a story about crime in the newspaper.
Our View : To podcast producers, this news is enormously encouraging. Such stability in advertising rates signals that the market for podcast monetization-a key element in sustaining and continuing to develop our industry-is in good health.
This news is very encouraging from the point of view of podcast producers. The fact of stability in the advertising rates is a signal that a healthy market for podcast monetization is here, crucial for sustaining and growing our industry. Libsyn's interest in brand safety through partnerships, such as that with Barometer, may usher in an era when increased advertiser confidence yields more high-quality sponsors coming into the podcasting space.
That welcome development may translate to increased opportunities for creators across genres to monetize their content better, and hence, come up with more quality content that effectively reaches wider audiences. Emphasizing how, in a time when AI-generated content is everywhere, podcasting stands out as unusually trustworthy is a great thing to do. This will really cement our medium as one of the best options for authentic storytelling and engagement. It could mean more audience numbers, but a more considerable boost to the growth of the industry.
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