The cost of podcast advertising has reached a new high in recent months, according to data from advertising network AdvertiseCast. The average CPM for a 60-second spot reached $23.55 in August 2021, the third-highest level since the beginning of 2020 and an increase of 8.0% from the same month last year.

Why it matters

Additional research shows podcast advertising is attracting more advertisers and higher levels of investment. Rising ad costs, particularly among the largest podcasts, could help push total spend even higher in the future.

Takeaways

• Advertising on a smaller podcast, with 1,000 to 9,999 listeners per episode, is...