The market leader in this industry is Pandora Media, Inc. Pandora has the highest number of average active sessions, with a total of over 2 million sessions in August 2016. Its closest competitor was Spotify, which registered 1.26 million sessions in the same timeframe. Pandora's revenue topped one billion U.S. dollars for the first time in 2015, the majority of which was generated through advertising.
Due to the high proportion of the population that are reached by radio, advertisers are looking to capitalise on this market. In the United States, digital radio ad revenue amounted to over 1 billion U.S. dollars in 2015, which was less than five percent of total radio advertising revenue generated that year. Nevertheless, the figures are likely to grow in the near future, as the number of monthly digital radio listeners is expected to continue to increase.
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