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If you are looking into advertising on podcasts, podcast ad rates (or CPM — Cost Per Thousand) are probably top of mind. To this end, we give you the May 2024 Podcast Advertising Rates.
Each month Libsyn Ads publishes the prior month’s rates to allow advertisers and podcasters to monitor market pricing and to foster insight into podcasting advertising as a monetization vehicle.
IAB Podcast Upfront Takeaways
At the 2024 IAB Podcast Upfronts, held last month in New York City, creators, brands, agencies, and media buyers convened to discuss the state of podcast advertising and preview the latest in talent and tech. After years of double-digit increases, podcast advertising posted a modest revenue increase of 5% to $1.9 billion in 2023. That said, podcasting is projected to more than double its 2023 ad revenue growth rate (+12%) in 2024 and reach nearly $2.6B by 2026, according to IAB & PwC’s new U.S. Podcast Advertising Revenue Study.
“With the evolution of podcasting adtech, advanced measurement tools, and enhanced brand safety and suitability levers, combined with new revenue streams from video and live events, podcasting has become the premier medium for investment,” said Dave Hanley, Chief Revenue Officer of Libsyn.
As we venture into the latter half of 2024 and beyond, podcasting should continue to be a priority for marketers seeking targeted scale and genuine connections with listeners. It’s a powerful medium to capture attention, build brand awareness, and drive consumer action.”
The following data is derived from sales data across Libsyn Ads’ network of thousands of shows.
May 2024 Podcast Ad Rates
For May 2024, the average CPM rate was $21.63 for a 60-second ad spot. That figure is slightly lower than last month (April 2024 avg. CPM rate: $21.89), and the same month last year (May 2023 avg. CPM rate: $23.34).
The three highest CPM categories in May based on delivered advertising were:
- Technology: $27
- Business: $25
- Education: $24
Moreover, three categories where advertisers can effectively tap into highly engaged audiences at more accessible CPM rates include Arts, Fiction, and TV and Film, which averaged around the high teens to low 20s in May.
Historical data dating back to 2020 can be found on the Libsyn Ads site, along with a pricing calculator that allows you to estimate the spend for your next advertising campaign.
Interested in podcast advertising? Connect with our team and get started here.
