October 2023 — Advertising Week NY & Podcast Advertising Rates

Teal spiral sound wavers on dark background reading "October Podcast Advertising Rates"

Insights from Advertising Week

At Advertising Week New York, Dave Hanley, Chief Revenue Officer of Libsyn AdvertiseCast, was joined by Aaron Mahnke, Creator and Producer of “Lore” Podcast; Brad Mielke, Host/Managing Editor of “Start Here” Podcast, ABC News; and Tomas Rodriguez, Senior Director of Emerging Channels at The Trade Desk.

Together, they took the stage for “The Winning Podcast Advertising Playbook from Iconic Creators & Brands” session, illuminating several key trends:

  • A notable trend centers on the dichotomy between two dominant podcast advertiser types: those prioritizing immediate ROI and those emphasizing long-term brand recognition. While advertisers often focus on performance, there is a growing recognition of the “halo effect” gained by associating with beloved content, leading to the cultivation of brand loyalty over time.

  • Programmatic advertising plays a crucial role in expanding the reach of podcasts and gaining a deeper understanding of audience behavior. Buyers are showing a growing interest in content signals like show names, episode names, and genres they bid on, finding value in the insights they provide. For instance, when targeting multiple shows, they can identify episodes that generate significant engagement, sparking curiosity about the content and driving questions that, in the end, lead to performance optimizations.

  • The emerging trend of “co-listening” is reshaping the podcasting landscape, where not only children but also their parents are tuning in together, presenting a new dimension for audience engagement.

  • Major players like ABC News are shifting towards the creation of podcast verticals, with the aim of building more profound and community-like connections between content, listeners, and brands.

Hanley commented, “Brand marketers are becoming more familiar with podcast advertising and are harnessing the potential of dynamic creative and programmatic capabilities. Looking ahead, 2024 brings boundless opportunities for both advertisers and creators alike, and Libsyn’s AdvertiseCast is paving the way in helping advertisers tap into new developments in creativity, emerging technologies, and audience engagement — with industry-leading tools to effectively reach the content-immersed audiences they value with measurable impact.”

October 2023 Podcast Advertising Rates

If you are looking into advertising on podcasts, podcast advertising rates (or CPM — Cost Per Thousand) are probably top of mind. To this end, we give you October 2023 Podcast Advertising Rates.

Each month Libsyn’s AdvertiseCast Marketplace 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. 

The data is derived from actual sales data across AdvertiseCast’s network of 2,900 shows, including more than 225 exclusive podcasts.

For October 2023, the average CPM rate was $22.40 for a 60-second ad spot.

That figure is slightly down compared to last month (September 2023 avg. CPM rate: $22.89) and has decreased year-over-year (October 2022 avg. CPM rate: $23.94).

The three highest CPM categories in October based on delivered advertising were:

  • Arts: $28
  • Technology: $25
  • Education: $25

Moreover, three categories where advertisers can effectively tap into highly engaged audiences at more accessible CPM rates include News, Sports, and TV & Film, which averaged around the low 20s in October.

Historical data dating back to 2020 can be found on the AdvertiseCast 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.

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