The average CPM paid by podcast advertisers had its traditional year-end bump up, but overall, Libsyn’s AdvertiseCast says for ads sold through its platform last year rates were down overall. The average CPM paid for a 60-second ad during 2023 was $22.58, which was a six percent decrease versus 2022, when the average CPM rate was $23.87. Considering the challenging overall advertising market, Libsyn says the relatively small decrease demonstrates the resiliency of the podcast advertising ecosystem.
For December, the average CPM was above last year’s average. It was $22.91 for a 60-second ad spot, up slightly from $22.85 in November, although down 10% from a year earlier when the average CPM was $25.53.
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 November were Arts ($26), Technology ($25), and Health & Fitness ($24). AdvertiseCast also points out there remain several genres with more accessible rates to entice marketers to spending with podcasters, with True Crime, Games, and History all having average CPMs in the low $20 range during December.
Whether advertisers paid more last month depended in part on the size of the podcast on which they bought ad time. AdvertiseCast says shows with between 1,000 and 10,000 downloads had the highest average CPM during December at $24.47, down one percent from November. Podcasts with between10,000 and 100,000 downloads had a $23.79 average CPM, up three percent from the prior month. And AdvertiseCast says shows with more than 100,000 downloads continue to have the lowest CPMs at $20.44 during December, down one percent from November.
While there are month-to-month fluctuations, AdvertiseCast says the typical one-minute ad 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.
“Podcast advertising undeniably works, reaching an estimated 120 million listeners in the U.S. each month,” said Dave Hanely, Chief Revenue Officer of Libsyn’s AdvertiseCast. “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.”