Libsyn reports the average CPM paid by brands using its ad network paid similar rates in August as they did in July, with the average CPM for a 60-second ad coming in at $21.25. It represents a minor decrease compared to the average CPM of $21.93 in July. The August CPM rate was also marginally below the $22.10 rate paid by advertisers a year earlier.
The monthly update shows the drop in average CPM largely came from podcasts with 1,000 to 10,000 downloads per episode, which saw their average rate drop 10% last month. The data shows podcasts with 10,000 to 100,000 downloads per episode had the highest average CPM. It was $23.37 in August, a slight increase month-to-month. At the same time, podcasts with more than 100,000 downloads per episode saw their average CPM hold steady.
The podcast genre with the highest CPMs in August remained Technology, which Libsyn Ads says came with a $29 CPM. Shows in the Government genre moved up to demand a similar CPM last month. Health & Fitness shows had the second-highest CPM at $24 for a one-minute spot. But for marketers looking for a lower rate, Libsyn says there were more accessible CPMs to be had as usual. Genres including True Crime, Sports, and Fiction all had CPMs in the high teens to low 20s in April across Libsyn Ads’ network of shows.
“Podcast advertising in August 2024 presents a pivotal opportunity for brands and agencies to drive meaningful engagement,” said Rick Selah, Chief Revenue Officer of Libsyn. “As we head into fall, popular genres like True Crime, Sports, and Fiction are set to perform exceptionally well, with True Crime remaining a standout. Our exclusive offerings, like the ABC Audio True Crime bundle, give brands a unique opportunity to tap into this dedicated fanbase and maximize their impact. And with the kickoff of the pro football, basketball, and hockey seasons, along with growing interest in Fiction, fall presents a prime moment for advertisers to connect with highly engaged audiences.”
CPM is cost “per mille” or cost per 1,000 listeners. Libsyn Ads bases its averages on actual sales data across its network of roughly 1,300 shows.
Selah points to research showing 88% of podcast audiences describing their listening experience as deeply meaningful, saying the CPM rates paid by brands “underscore the tremendous value” of reaching attentive consumers.
“Listeners also feel a genuine, intimate connection with podcasters,” he says. “In today’s multimedia landscape, where 75% of audiences view podcasters as more influential than social media or entertainment figures, this shift opens a significant opportunity for brands. The trust and intimacy that podcasters cultivate create a unique bond, positioning them as some of the most impactful creators of our time.”
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