While podcasting may have seen a 22% year-over-year revenue growth in 2024’s second quarter, the first month of Q3 saw another decline in ad rates. Libsyn announced its July 2024 Podcast Advertising Rates, revealing a decrease from last month and last year.
For July 2024, the average cost-per-thousand for a 60-second ad was $21.90, a slight decrease from June 2024’s $21.92 and below July 2023’s $21.96.
The highest earning categories for the month were Technology at $30, Government at $26, and Business at $23. Meanwhile, categories such as Health & Fitness, Comedy, and Education presented valuable lower-cost opportunities for advertisers, with rates in the high teens to low twenties.
Despite a slow summer, podcasters are looking forward to a golden holiday to end the year strong. Libsyn Chief Revenue Officer Rick Selah stated, “With the holiday season just around the corner, it’s time for brands and agencies to incorporate podcast advertising into their festive marketing plans. Podcast hosts create an environment ripe for influence and discovery among their engaged listeners.”
“As rising podcast audiences celebrate, decorate, host, travel, donate, and shop, marketers should embrace the valuable podcast ad opportunities to capture the holiday spirit, boost marketing efforts, and drive consumer action. With peak seasonal sales around Thanksgiving, Black Friday, and Cyber Monday in November, followed by holiday shopping in December, now is the ideal time to invest in podcasts to achieve unmatched brand recall, positive brand sentiment, and broad, scalable reach.”
Historical monthly CPM rates can be found on the Libsyn Ads website.
