Most avid podcast listeners have an intimate relationship with the “skip ahead 15 seconds” button, pressing it in a pellet-seeking hamster haze to get past those endless Blue Apron ads the hosts sound forced to do at gunpoint. Apparently not all listeners operate this way, though, as podcast ad revenue continues its mercurial rise.
A new report from the Interactive Advertising Bureau reveals that the U.S. podcast industry brought in an estimated $314 million in advertising revenue in 2017, up 86% from the previous year’s reported tally of $169 million. The new figure actually dwarfs the IAB’s prediction from an earlier annual report, which projected 2017 growth would top out at $220 million. Considering the steady cash injection, IAB now predicts that ad revenue will rise to $659 million by 2020.
Obviously, this is good news for podcasters–both nascent, ahem, and veteran alike. Elsewhere in the media world, though, Hearst president David Carey said earlier this year that the ongoing decline in ad revenue for digital media suggests a forthcoming crash. Yikes.