Ad spend on podcasts jumped 86% from 2016 to 2017 for a total of $313.9 million, according to the IAB and PwC. The report even predicts that revenue will rise to $659 million by 2020. That’s still a small share compared to other areas like TV, but the rapid growth shows that marketers are picking out podcasts as an important new channel to reach young consumers. Ypulse data shows that 42% of 18-35-year-olds listen to podcasts, so stepping up spend is a good bet to reach their ears. (WSJ, Tubefilter)
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