PITTSBURGH, November 1, 2023 – Today, Liberated Syndication Inc. (“Libsyn”), the leading all-in-one podcasting platform for creators and advertisers, announced its October 2023 Podcast Advertising Rates, including the highest and most accessible CPM categories, and podcast advertising trends that were brought to light during the Company’s Advertising Week New York 2023 session.
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
The following rates, which are denoted as cost per thousand or CPM, are published monthly by Libsyn’s AdvertiseCast, the industry’s premier podcast advertising marketplace that connects advertisers with podcasters. The Company releases the figures to empower the podcaster and advertiser communities to readily monitor market pricing and provide greater insight into podcasting advertising as a monetization vehicle. The data is derived from actual sales data across AdvertiseCast’s network of thousands of shows.
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:
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.
Libsyn’s AdvertiseCast combines an industry-leading ad buying and management platform with full-service capabilities that makes it easy for podcast advertisers to initiate and manage highly targeted and measurable campaigns, while providing maximum return for creators. Historical monthly CPM rates can be found on AdvertiseCast’s website at: www.advertisecast.com/podcast-advertising-rates.
About Liberated Syndication
Founded in 2004, Liberated Syndication Inc. (“Libsyn”) is the leading all-in-one podcasting platform for creators and advertisers to host, distribute, monetize, amplify, and measure their audio content. In 2022, the Company hosted over 75,000 shows and delivered over 8 billion downloads to listeners globally. Libsyn’s AdvertiseCast marketplace combines an industry-leading ad buying and management platform with full-service capabilities that make it easy for podcast advertisers to initiate and manage highly targeted and measurable campaigns on over 3,000 shows. Based in Munich, Germany, Libsyn’s Julep Media platform is the leading podcasting hosting platform and advertising marketplace in Europe. Libsyn also powers podcast membership platform, Glow, and web hosting platform, Pair Networks. Visit libsyn.com or investor.libsyn.com for more Company information.