Although traditional radio advertising remains a $10.5 billion business in the US, it’s slowly shrinking. Digital audio advertising, by contrast, will grow 6.8% in 2024 to reach $7.12 billion.
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?
Gain access to reliable data presented in clear and intelligible displays for quick understanding and decision making on the most important topics related to your industry, included at no extra cost.