Executive Summary

Audio is a small, but growing part of digital advertising. With the pandemic affecting listening patterns and media budgets, marketers are figuring out how to realign their audio strategies.

How much will advertisers spend on digital radio this year?

US digital radio ad spending will reach $3.72 billion. While digital radio ad spending will be down from last year, we expect a rebound in 2021.

Is programmatic becoming more common in digital audio?

This year, 16.5% of digital radio ads will be transacted programmatically, and that figure will reach 21.0% by 2022.

Are more people tuning into podcasts?

The number of US podcast listeners will increase 16.0% year-over-year (YoY) to 106.7 million.

How much will be spent on podcast advertising?

We forecast US podcast ad spending for the first time this year. US podcast ad spending will grow 10.4% to $782.0 million and surpass $1 billion in 2021.

WHAT’S IN THIS REPORT? This report covers the current state of audio advertising with a focus on how the pandemic has affected traditional and digital radio. It also includes our inaugural forecasts for podcast ad spending and listenership.

KEY STAT: US digital radio ad spending will shrink 17.0% this year to $3.72 billion.