Nearly a quarter of podcast advertising buyers expect to increase upfront allocation in 2021. That is according to a just-released survey of ad buyers by the Interactive Advertising Bureau ahead of next month’s 2021 Podcast Upfront. The survey finds that among those buyers surveyed buying podcast ads, 23% plan to invest more during the 2021 upfront compared to last year’s upfront. A majority 57% said they will keep their upfront budget on par with what they spent during last year’s event. And one in five expect to commit less.
With more buyers focused on upfront buys, the IAB survey finds that a quarter (26%) will allocate less of their podcast ad dollars to the scatter market this year. It does not mean, however, that all planners are thinking long-term. The survey also finds that 17% of those surveyed say they will allocate more of their podcast spending to the scatter market in 2021.
The IAB said last week that 3,500 ad buyers have already registered for the 2021 Podcast Upfront. And those numbers are expected to grow in the coming weeks as the May 11-13 event draws closer. This year’s event, titled “Listen Up,” will feature 33 podcast companies who will give brands and ad agencies a first listen to shows that are being cued up for release, as well as pitch creative opportunities for podcasters to work with advertisers. The event will immediately follow the IAB NewFronts and is designed to bring the video and audio marketplaces side-by-side to allow buyers to plan their digital media more holistically and effectively.