Libsyn has released its podcast advertising rates for August 2023, with another noted decrease in cost per thousand for the industry. The new data reveals an average CPM rate of $22.14 for a 60-second ad spot. This indicates a marginal dip from July 2023, where the average CPM rate stood at $22.20. This rate has further decreased compared to August 2022’s figure of $23.41.
Breaking down by category, Technology, Education, and Arts continue to have the highest CPM rates, each clocking in at $26. On the flip side, more budget-friendly CPM options were identified in the Sports, News, and TV & Film sectors, with CPM rates hovering around the low 20s. TV & Film is predicted to lag even further behind as the SAG-AFTRA strike has no end in sight.
Despite the market setbacks, Libsyn AdvertiseCast CRO Dave Hanley says the value of podcasting as an advertising medium has soared, but, “It’s not just about delivering a message; it’s about delivering it in the right context, to the right audience, at the right moment.”
