The average CPM for a 60-second ad spot for podcasts has remained relatively flat in March this year compared to last month, according to the latest report from podcast company Libsyn.
Libsyn, through its advertising marketplace AdvertiseCast, has revealed its monthly Podcast Advertising Rates report with data derived from sales figures across its podcast network, including more than 225 exclusive shows.
While the average CPM of $22.19 remained relatively flat compared to February’s $22.02 CPM, the overall figure has continued to decrease year on year in comparison to March 2022, where the average CPM rate was $23.35.
“New research indicates that podcast and online audio listenership reached record highs in early 2023 — and podcast advertising spending is expected to reach upwards of $3 billion this year,” said Libsyn’s AdvertiseCast chief revenue officer Dave Hanley. “The growth drivers combined with new advertising capabilities are attracting more creators, publishers, and brands to the medium.”
The top two categories this month with the highest CPM remained the same as February, with Technology ranking first at $26 and Education following behind at $25. However, Business replaced Kids & Family in the third spot with an average CPM of $24.
Additionally, the categories this month with a highly engaged audience and a more accessible CPM averaging in the low twenties included Fiction again this month, as well as ‘Games & Hobbies’ and Arts which replaced Music and Leisure from last month.
In February 2022, Libsyn’s AdvertiseCast announced that it was expanding globally by partnering with 604 Podcast Network and weekly sports podcast The Suspendables in Canada. It also recently signed a deal with podcast brand development and monetisation company Backyard Ventures to provide programmatic advertising within its marketplace for more effective monetisation.
“As we turn up the dial on the availability of automation and advanced targeting and measurement solutions,” added Hanley, “AdvertiseCast is well positioned to lead the industry into the next contextually relevant, cookieless ad era.”