Libsyn has released the Podcast Advertising Rates for January 2024, showcasing the top-earning categories alongside the most accessible for marketers. The average cost per thousand for a 60-second ad fell more than a dollar per ad in the last month.
The January CPM was $21.69, compared to December 2023’s average of $22.91, aligning with an expected Q1 downturn. However, the rate also shows a decrease from January 2023’s average CPM of $22.21.
The top three categories for the month, all commanding average rates of $26 and above, were Technology, Arts, and Education. At the same time, the Fiction, Games, and Leisure categories offered highly engaged audiences at more affordable CPM rates, averaging in the high teens to low $20s.
Libsyn AdvertiseCast Chief Revenue Officer Dave Hanley shared his thoughts: “With the uptick in podcast listenership, we’re seeing a parallel increase in ad spend, and an impressive 68% of consumers are more open to products featured in podcast ads. As 2024 unfolds, the trend of local and regional advertisers leveraging podcasts continues to rise, along with the growth in programmatic ad buying opportunities.”
