Podcasts, once a curiosity, are now big business: An industry forecast says they'll draw $220 million in ads this year.

Why it matters: A new Interactive Advertising Bureau study also found that while three-quarters of podcast ads are direct-response (like ordering on Stamps.com), there's been an increase in brand awareness ads. These are the ads you typically see aligned with high-quality TV/video content.

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Data: Interactive Advertising Bureau; Chart: Chris Canipe / Axios

How it happened: The growth reflects an audio streaming boom, made possible largely through mobile apps like Apple Music and Spotify.

The audience: Edison Research and Triton Digital estimates 98 million U.S. adults listen to podcasts.

For kicks: Consumers prefer host-read ads over pre-produced ads 60%-40%, according to the study.

Go deeper

Pundits react to a chaotic debate: “What a dark event we just witnessed”

The first presidential debate between President Trump and Joe Biden in Cleveland on Tuesday night was a shouting match, punctuated by interruptions and hallmarked by name-calling.

Why it matters: If Trump aimed to make the debate as chaotic as possible with a torrent of disruptions, he succeeded. Pundits struggled to make sense of what they saw, and it's tough to imagine that the American people were able to either.

Trump to far-right Proud Boys: "Stand back and stand by"

Asked to condemn white supremacist violence at the first presidential debate on Tuesday, President Trump said the far-right Proud Boys group should "stand back and stand by," before immediately arguing that violence in the U.S. "is not a right-wing problem. This is a left-wing problem."

Why it matters: Trump has repeatedly been accused of failing to condemn white nationalism and right-wing violence, despite the FBI's assessment that it's the most significant domestic terrorism threat that the country faces. The president has frequently associated antifa and the left-wing violence that has afflicted some U.S. cities with Biden, despite his condemnation of violent protests.

Mike Allen, author of AM
2 hours ago - Politics & Policy

The first Trump v. Biden presidential debate was a hot mess

Photos: Jim Watson and Saul Loeb/AFP via Getty Images

This debate was like the country: Everybody’s talking. Nobody’s listening. Nothing is learned. It’s a mess.

  • We were told President Trump would be savage. Turned out, that was a gross understatement. Even the moderator, Fox News' Chris Wallace, got bulldozed.

Why it matters: Honestly, who the hell knows?