Libsyn has released its final Podcast Advertising Rates for 2023. These insights, derived from sales data across AdvertiseCast’s network of thousands of shows, show that while December ended the year on a surge, rates still fell well behind the previous year.
For December 2023, the average cost per thousand for a 60-second ad spot was $22.91, marking a slight increase from November 2023’s average of $22.85, yet representing a significant decrease from December 2022’s rate of $25.53.
In 2023, the overall average CPM rate for a 60-second ad spot was $22.58, a 6% decrease from the 2022 average of $23.87.
The highest CPM categories for November were Arts at $26, Technology at $25, and Health & Fitness at $24. Games, History, and True Crime were genres with the lowest CPM rates, averaging in the low 20s in December.
Despite the plunge, Libsyn’s AdvertiseCast CRO Dave Hanley said, “Podcast advertising undeniably works, reaching and estimated 120 million listeners in the US each month…The pathway to success hinges on authenticity and trust for driving audience action and maximizing campaign results. In 2024, we look forward to leveraging our expanding array of compelling content, influential hosts, and strong podcasting communities to boost discoverability, foster fandom, and drive performance outcomes for both new and existing advertisers.”
