Libsyn has released its Podcast Advertising Rates for July 2023, and the results are not what the audio world was hoping for. The average CPM rate for July 2023 was $22.24 for a 60-second ad spot, a slight dip from the previous month ($23.06 in June 2023) and showing a more significant decrease year-over-year ($23.63 in July 2022). This marks a four-month low for CPM rates.
The categories delivering the highest CPM in July were Technology, Education, and Arts, with rates of $26, $26, and $25 respectively. In contrast, the genres offering more cost-effective advertising rates while still engaging avid audiences, such as Fiction, Games, and Sports, averaged in the high teens to low twenties.
Amid the slump, Libsyn’s AdvertiseCast CRO Dave Hanley said, “Investing in podcast advertising during the second half of the year offers distinct advantages for advertisers. Brands can capitalize on increased consumer purchasing during major holidays and seasonal events — to build brand awareness and establish a presence in consumers’ minds before the new year, leading to increased consideration and new customer conversions.”
