Podcasting 2024: A Look Back
Key Reflections on 2024
By ADOPTER Media’s SVP Client Services Adam McNeil
The “Podcast Election” Year
2024 will go down as the "Super Bowl" of podcast advertising. With the U.S. election spotlighting the medium with presidential interviews garnering over 100M total impressions podcasting received unparalleled attention—and ad dollars to match.
At ADOPTER Media, client spending surged by nearly 80% in select months throughout the year, driven largely by brands that capitalized on the election zeitgeist. Campaigns targeted to both sides of the political aisle saw high engagement and returns.
However, growth wasn’t universal. Though growth was sustained in other genres, it was not nearly as exponential and harder. For e-commerce-first, hyper-performance-oriented brands, the landscape became tougher, with rising CPMs (Cost Per Mille) and premium shows locked behind non-sense RON (Run of Network) or programmatic strategies.
Here’s my take on much of what happened in 2024 and what we can learn from it.
Lessons Learned
1. The Value of Influence Over Impressions
At ADOPTER Media, we don’t just buy impressions—we buy influence over impressions. While the general media focused on big-name moves, our ad dollars were spread more widely on small to medium-sized shows. This is partly because big brand names and Holding Cos have entered with more vigour pricing that out the “little guy” from rates that work on your favorite A-list shows.
But, more importantly, these gargantuan shows often get scooped by networks ready to milk them of every value they have. They’re loading episodes with 16+ ads (to their detriment) and avoiding best practices for the frequency to keep their sales engine pumpin’.
The most successful campaigns for ADOPTER and our clients stayed true to first principles: light ad loads, host-read endorsements, and targeted episodic buys. These strategies delivered action—not just awareness—for our clients.
2. Brand Safety: A Reality Check
Brand safety loomed large in discussions this year, but reality told a different story. Clients who ventured into politically charged or adjacent content saw almost no backlash. Ironically, more complaints came from sponsoring a random true crime host than any of our news/politics content.
The takeaway? Fear of public bias is often overblown. Listeners are savvier than we give them credit for. While brands should avoid truly toxic associations, calculated risks can pay off handsomely.
3. Dynamic Ad Insertion (DAI) is Improving
2024 marked a turning point for DAI technology. With iOS 17 adoption finally above 90%, the performance gap between DAI and episodic buys has narrowed (substantially, but not entirely–don’t use this as ammunition against me to shill me bad DAI).
In short, programmatic campaigns with frequency caps and realistic pricing are now a small part of our media mix. Mostly ACAST–but I’m open to being pitched.
That said, episodic campaigns remain king—and probably always will.
4. Timing is Everything
Election-focused brands reaped the rewards of timely, pre-bought placements. Shows purchased months in advance paid back overperformed during pivotal moments like debates and election week. The lesson here extends beyond politics: aligning campaigns with seasonal or cultural moments (e.g., true crime in October, fitness in January) can significantly amplify performance.
Look into 2025 around culturally relevant moments. Buy now, earn later? Is this a new saying?
Aligning campaigns with seasonal or cultural moments can significantly amplify performance.
Challenges Facing Podcast Advertising
1. Rising Costs and Bundling Barriers
The rise of big brands in podcasting has driven up CPMs, making it harder for direct-response brands to scale. Networks are prioritizing bundled impressions, forcing buyers to pay premium rates for lower-value placements.
For brands aiming to surpass $5M+ annually in podcast ads, it's harder. Low-cost products, in particular, are struggling to find viable opportunities in an increasingly crowded marketplace.
High AOV/LTV, niche, non-competitive products still have a huge playground to play in. But another “greens” product? Probably less so.
2. The Industry’s Betrayal of First Principles
Podcasting’s growth has been built on the backs of direct-response pioneers like Squarespace, Warby Parker, and Stamps.com. Yet, instead of honoring the playbooks they perfected, some networks have tried to create their own backed with greed. Overloading episodes with repetitive ads, no freq caps, and terrible creative alienates audiences—and hurts the very brands that proved podcasting works.
I’ve seen too many brands go through the slaughter house of bad ad buying and tell us “podcasting doesn’t work.” I’m tired of that phrase followed by a brutally constructed campaign.
Bright Spots and Predictions for 2025
Redemption Stories
Some networks have made significant strides in 2024. SiriusXM and Audacy, once focused on full-catalog DAI, have pivoted to more episodic opportunities, becoming reliable partners for many of our clients. Similarly, QCODE’s growth, with its light ad loads and fair pricing, has been a highlight.
Other networks—like Audioboom, Dear Media, and Crooked Media—continue to offer strong host-read, episodic campaigns that prioritize influence over impressions.
Spotify’s Looming Disruption
Spotify remains on a fast track to disrupting programmatic and DAI with its superior streaming insertion technology. Live targeting, guaranteed listens, and faster attribution windows make it a compelling option. But until Spotify opens its walled garden to third-party tracking, its potential remains untapped for buyers like us.
I’m not sure we’ll see this hit hard in 2025, but by 2027 I’m confident it will (unless they muck it up).
Closing Thoughts
2024 was a transformative year for podcast advertising. It reminded us of the power of influence, the importance of timing, and the need to protect the principles that made this industry great. As we look to 2025, the challenges of rising costs and increased competition will persist—but so will the opportunities for those willing to adapt.
For brands and buyers alike, the lesson is clear: podcast advertising isn’t just about impressions; it’s about impact. And the impact is worth every penny—when done right
Adam McNeil
Podcast Advertising Simplified | Senior VP, Client Services @ ADOPTER Media | Co-Host @ Make Better Podcast | Former VP, Marketing @ Füm | Wannabe Alex Honold | Self-Proclaimed Coffee Connoisseur. Adam helps DTC brands scale through podcast advertising by creating armies of podcasters that keep your inventory levels low.
