Podcast hosting platform Libsyn’s average CPM values continue to fall year-on-year, according to the company’s latest monthly podcast advertising rates for June 2023.
Libsyn compiles the reports using sales data from its podcast marketplace AdvertiseCast, which has an inventory of over 3,000 podcasts and a monthly listener reach of over 190 million.
The average CPM for a 60-second ad spot in June was $23.03, which is relatively flat since May, only decreasing by $0.44, but the number has also continued to go down year-on-year, falling by 3.6%. The company’s average CPM has declined year-on-year every month since December 2022, when the rate was $23.58.
The report revealed that the podcast categories with the highest CPMs were Technology at $27, followed by Business at $26, and Education at $25. However, podcast categories that had the most growth - averaging in the high teens to low 20s - and are more accessible to advertisers include Arts, Fiction, and History, compared to last month which featured History and Fiction, but also included Music.
In June this year, Libsyn’s AdvertiseCast also partnered with the Interactive Advertising Bureau (IAB) to host a Brand Academy - in person and virtually - which explored podcast advertising opportunities, challenges, programmatic buying, brand safety, and more.
The panel was moderated by AvertiseCast chief revenue officer Dave Hanley and featured a number of industry representatives from marketing agency Hearts & Science, media company Horizon, creative media agency Mediahub Worldwide, podcast measurement platform Podscribe, marketing company The Trade Desk, and audio research and analytics platform Veritonic.
“Podcasting has come a long way, evolving from traditional host read for direct response to a dynamic medium that holds immense potential for brands and advertisers,” said Hanley. “As industry leaders, it is our responsibility to educate and empower them about future possibilities. Contextual targeting, programmatic advertising, AI, and data-driven insights are revolutionising the podcasting landscape, opening up new avenues for engagement and ROI.”
“By embracing these advancements, brands can unlock the true power of podcast advertising, reaching their target audience with precision and creating meaningful connections.”
