My iPhone auto-downloaded 13 podcasts this week via Apple Podcasts.
That’s ~91 “delivered” ads at roughly a $30 CPM.
Of those downloads, I listened to just 4 episodes—and skipped about 80% of the ads.
In total, I actually played 6 ads.
That’s a 93% drop-off from delivered to heard.
👉 Which means advertisers effectively paid ~$455 CPM to reach my ears.
Podcasts are a powerful advertising medium—but what brands are paying for is nuanced.
Zombie downloads.
Ad skipping.
Partial ad plays.
This is the reality of an ecosystem heavily dependent on platforms like Apple and Spotify. And brands can’t afford to keep paying higher-and-higher CPM premiums for top-tier podcasts when ads may only be heard by a fraction of the purchased audience.
My prediction for 2026:
Brands will dramatically increase spend across low-CPM, mid-tier, and long-tail podcasts.
Why?
- Less risk: Smarter brand safety via AI
- Better placement: Smarter contextual placement via AI
- Better creative: Smarter, dynamic creative via AI
- Stronger performance: Independent third-party measurement and lift
- More availability: AI-powered tools and marketplaces that finally monetize smaller podcasts
Most of this technology already exists.
What’s missing is brands demanding more—from their media buyers, platforms, and partners.
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