Digital Audio Ad Spending Forecast and Trends Q2 2024

US Audio Advertising Gets a Digital Boost, but It Still Trails Other Media

The average US adult spends more than 2 and a half hours (2:42) each day listening to audio, but advertisers spend only 4.5% of their ad budgets on audio, predominantly in traditional radio. As digital audio services expand their ad-supported offerings, the digital share of audio advertising will approach parity by the end of the decade.

Key Question: Where is the growth in audio advertising, and how does it stack up against other advertising media?

Key Stat: Digital audio will grow at a solid 6.8% rate in 2024 to reach $7.12 billion, but it will still account for just 40.4% of audio revenues.

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Table of Contents

  1. Executive Summary
  2. Audio advertising continues to punch beneath its weight class
  3. Audio advertising is small but rising thanks to digital
  4. Audio generates relatively little ad revenues per listener and time spent
  1. The shift to digital is more gradual in audio than video
  2. Programmatic audio advertising remains a minority of digital ad sales despite its fast growth
  3. Podcast advertising’s growth holds its lead
  4. Pandora holds a shrinking lead in digital audio advertising
  1. Diversifying audio listening behavior will create new audio formats
  2. Media Gallery

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First Published on Apr 17, 2024


Yoram Wurmser


Ross Benes
Senior Analyst
Andrew Spink
Forecasting Analyst
Max Willens
Senior Analyst

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