January is typically the calm after the fourth quarter advertising storm, and that means lower rates for ad buyers that remain in the marketplace. That was true for podcast advertisers again this year. Libsyn’s AdvertiseCast says the average CPM for a 60-second podcast spot through its platform last month was $21.69. That was down more than a dollar from the December average CPM of $22.91. Last month’s average was also two percent lower than what marketers paid last January.
“Entering 2024, we're optimistic about the growth of podcast advertising — with more local and regional advertisers embracing the medium and expanding opportunities in programmatic buying,” stated Dave Hanley, Chief Revenue Officer of Libsyn’s AdvertiseCast. “We look forward to empowering more creators and advertisers with industry-leading tools to deliver richer audience insights, improved performance outcomes, and increased transparency.”
The data, which is derived from actual sales data across AdvertiseCast’s network of more than 1,500 shows, reveals the three genres with the highest CPMs during January were Technology ($26), Arts ($26), and Education ($24). AdvertiseCast also points out there remain several genres with more accessible rates to entice marketers to spending with podcasters, with Fiction, Games, and Leisure all having average CPMs in the low $20 range during January.
AdvertiseCast recorded month-to-month declines regardless of show size. Podcasts with between 1,000 and 10,000 downloads had the highest average CPM during January at $23.18, down five percent month-to-month. Podcasts with between 10,000 and 100,000 downloads had a $21.93 average CPM, down eight percent from the prior month. And AdvertiseCast says shows with more than 100,000 downloads continued to have the lowest CPMs at $19.96 during January, down two percent from December.
While there are month-to-month fluctuations, AdvertiseCast says the typical one-minute ad sold by its platform has a $25 CPM while a 30-second ad typically has an average $18 CPM. That is the same as a year ago.
CPM is cost “per mille” or cost per 1,000 listeners. AdvertiseCast bases its averages on actual sales data across its network of roughly 1,600 shows.