Second, according to the Interactive Advertising Bureau (IAB) and PwC, podcasting ad revenue is expected to reach over $1 billion by 2021, up 50% from this 2019 revenue.
First, over the past 5 years, the number of Americans listening to podcasts each week skyrocketed 225% going from 19 million to 62 million. I ran the numbers on the deal and found out that the future is not so gloomy for Spotify.įirst, if you are wondering why Spotify is venturing so aggressively in the podcast industry, a few statistics could help put the move into perspective. Despite the stock run-up, the deal has been received with scepticism by some, especially for its rumoured cost of around $100 million.
As a response the stock skyrocketed almost 20% to $195, testing new highs before coming back to $180. Spotify ( NYSE: SPOT) recently announced a deal with the podcast “The Joe Rogan Experience”.
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