Digital website Digiday points out that it’s been about a year now since CBS launched its Play.It podcast network. Advertisers the company was able to land include Dunkin’ Donuts and DraftKings. The website reports that a lot of the advertising still comes as part of multiplatform deals sold by the CBS Radio and CBS Local Digital Media’s sales teams. CBS Local Digital Media President Ezra Kucharz tells writer Sahil Patel, “There are some that have bought into the on-demand world and they’re in hook, line, and sinker. There are others who are more cautious and still want to figure it out.”
CEO Todd Cochrane, from podcast service company RawVoice says the podcast advertising market is about $100 million. He says only 2 or 3 percent of the 307,000-plus podcasts available on iTunes actually make money from ads. “The media buyers are all looking for the big shows, but there is a huge opportunity to take this to a $400-500 million market.”
Kucharz tells Digiday that Play.It has grown downloads and streams by 70 percent to 17 million per month. This puts it behind PodcastOne, which says it now has more than 100 million listens per week across its network.
Read the full Digiday story HERE