Survey: Podcasting Has A $1.15 Billion Opportunity.

Podcast advertisers are ready to spend more money, but measurement shortcomings, rising ad loads and questions about advertising effectiveness are keeping some of those dollars on the sidelines. A new Oxford Road report estimates that video podcasters and creators could be missing out on as much as $1.15 billion in annual advertising revenue because brands lack the measurement tools they need to justify greater investment.

The agency’s “What Brands Want 2026” report finds that more than two-thirds of surveyed advertisers would increase spending if video podcast measurement achieved parity with audio. Nearly one-quarter aren’t investing in video podcasting at all, even as the medium expands across YouTube and other platforms.

“This should be a wake-up call, particularly for creators who are now being affected by the same measurement challenges that podcasting has been battling for years,” Oxford Road CEO Dan Granger says. “The industry has always gone through growing pains. But the medium’s shift to video has accelerated an identity crisis that has fostered uncertainty, even beyond podcasting.”

The findings are based on a survey of advertisers and brand experts. Respondents collectively represent hundreds of millions of dollars in advertising spending, including three of the industry’s 10 largest podcast advertisers. The $1.15 billion estimate is based on survey responses and projections using eMarketer’s forecast for 2027 podcast advertising spending.

Podcast advertising budgets continued growing in 2026, with 59% of respondents reporting increases. But only 40% anticipate raising their spending in 2027, suggesting advertisers are becoming more selective about where additional dollars go.

Measurement remains the biggest recurring concern. Overall, 57% identify measurement and attribution gaps among their three leading obstacles to greater investment. The issue is especially pronounced among major advertisers, with more than 90% of brands controlling media budgets exceeding $100 million citing measurement as a top concern.

“Every network defines inventory, impressions, downloads, reporting, and ad products differently, making it difficult for advertisers to compare opportunities and evaluate performance,” one respondent tells Oxford Road. “A more consistent buying process, shared terminology, and standardized measurement would benefit both buyers and sellers.”

The consequences extend beyond video. While 38% of advertisers believe podcasting, audio and creator media receive too little credit for the results they generate, 40% identify the perception that they are getting better returns from competing advertising channels as the single biggest obstacle to increasing their podcast spending. That disconnect suggests podcasting could be losing advertising dollars not necessarily because campaigns are underperforming, but because brands struggle to demonstrate their effectiveness.

Measurement isn’t the only issue giving advertisers pause. More than 40% cite the advertising environment as an obstacle to additional investment, pointing to growing commercial loads, repeated ads and poorly executed commercial breaks. Some also question whether rising CPMs are justified as podcast advertising becomes more commercialized and host endorsements lose some of their distinctive appeal.

“When listeners hear generic ads for the largest national brands in every episode, DTC and DR brands suffer in performance,” an unidentified advertiser says. “Ad loads have been extremely disappointing as of late, as have the transitions to breaks.”

Pricing and buying complexity are additional concerns. Nearly a quarter identify operational complexity as a significant barrier to spending more in the medium.

Successful Brands Diversify

The report also identifies differences in how advertisers achieving their podcast campaign goals approach creative execution. Host-read endorsements remain popular, but brands meeting or exceeding their goals are more likely to use a broader combination of advertising formats. The findings suggest that expanding beyond traditional host reads could help advertisers make more effective use of podcast inventory.

Programmatic buying remains relatively limited among the surveyed brands. Just 22% currently purchase podcast advertising programmatically, while 37% have no plans to do so. Even among adopters, most allocate less than 20% of their budgets to programmatic. For those using it, audience targeting is the leading attraction, followed by cost efficiency and frequency management.

Oxford Road argues that addressing these barriers could unlock additional investment across podcasting, audio and creator media. The agency is advocating for common measurement standards through its AMP Accords initiative, which has been submitted to the IAB Tech Lab for technical review.

“Advertising is the lifeblood of the industry, and measurement is the lifeblood of advertising,” Granger says. “We need the widespread support of platforms, publishers and creators to overcome obstacles ahead and realize our potential for growth.”