Podcast ad spending in the U.K. rose in Q1 2023 to £76.3M ($95.3M), according to IAB U.K.'s Digital Adspend report.
The £76.3M is triple what it was when IAB began measuring the amount in 2020.
Podcast ad spending grew by 32% YoY, marking its biggest change yet.
- Digital advertising as a whole in the U.K. has grown by 56% since the beginning of the COVID-19 pandemic in 2020.
- Jon Mew, CEO at IAB, said, "Today’s results also reflect the growing opportunities for advertisers to resonate with audiences in new ways. Of course, search and display spend still underpin the digital ecosystem, but the U.K.'s flourishing retail media market — officially sized for the first time in this report — alongside the continued growth of podcasting, show how digital is diversifying to offer advertisers more choice and more immersive routes to connect with consumers."
