Podcasts are gaining audience, but have yet to attract the biggest advertisers.
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Podcasts were meant to have arrived a decade ago. But they remain a tiny
market for advertisers—$50m to $80m annually in America compared with
$16 billion on terrestrial radio.
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An industry to support podcasting is developing. In 2015 two former bosses of Westwood One, a broadcaster, launched DGital Media, which hosts and monetises podcasts. In July E.W. Scripps, another broadcaster, bought Midroll, a firm which connects podcasts to advertisers, for $50m. Firms like Art19 allow advertisers to update and insert ads into podcasts, including back catalogues.
An industry to support podcasting is developing. In 2015 two former bosses of Westwood One, a broadcaster, launched DGital Media, which hosts and monetises podcasts. In July E.W. Scripps, another broadcaster, bought Midroll, a firm which connects podcasts to advertisers, for $50m. Firms like Art19 allow advertisers to update and insert ads into podcasts, including back catalogues.
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