Podcast ad buyers have yet to see notable budget cuts from their clients — though the time of podcasts as the shiny new medium may be coming to an end.
Advertising spend in general has been slowing down, as advertisers’ scrutinize their budgets amid rising interest rates, inflation and overall uncertainty around the economy.
But podcast ad spend is not seeing the same adjustments yet. Four podcast ad buyers told Digiday their clients’ budgets are not getting slashed. Instead, they are continuing to see an increase in brands’ podcast ad spend.
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“Some of the shininess has worn off,” said Molly Schultz, svp of integrated investment at UM. “We have done so much with the technology around it to make it more similar to everything else we do… that’s good for many reasons, but it does then take away from that, ‘This is so different and so new.’ But clients don’t always need that.”
Read more on Digiday.