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Audio advertising in the United States - statistics & facts

The audio universe in the United States has gone through a major digital transformation over the last decade, sustained by the development of online streaming services and online radio. Paid music streaming subscription numbers have been mounting up year after year, while the number of podcast listeners has been growing with leaps and bounds. Despite its ever-increasing omnipresence in the day-to-day life of consumers, online audio was still the most under-invested media in the U.S. in 2022 – meaning the share it takes of consumers’ media time is significantly larger than its piece of the ad revenue pie.

Podcast advertising proves its worth

Podcast advertising spending in the U.S. has been enjoying double-digit growth and was expected to reach a projected value of 2.56 billion dollars in 2024. At the same time, the share of podcasts in digital radio ad spending was projected to double between 2019 and 2023. Most of the podcast ad revenue came from host-read ads, while the financial services constituted the leading industry in this field. As far as genres go, the largest slice of the podcast advertising cake was held by news, while the country’s top podcast advertiser was mental health services portal BetterHelp. Spotify has proven to be a major player in the podcasting game, boasting a projected eight-fold increase in ad revenue between 2020 and 2024. Despite Spotify’s solid footing, iHeartMedia remained the undisputed podcast leader, with an ad revenue that is expected to surpass the half-billion-dollar mark by 2024.

Radio advertising runs at two speeds

The advertising revenue of over-the-air (OTA) radio stations in the U.S. has been decreasing for almost two decades, with the 2022 value being two-thirds of what it was in 2006. A decline in traditional radio ad revenue has gone hand in hand with the gradual rise of the ad revenue of its online counterpart, doubling in value in the last decade. T-Mobile US is the leading radio advertiser, with Comcast and Geico hot on its heels. Retail secured the top spot among the leading radio advertising industries, with communications nabbing second place.

Digital audio advertising doesn't slow down

Digital audio advertising spending has been on a roll, with values nearly tripling in the last five years, and more than five out of 10 U.S. marketers saying they plan to increase their digital audio ad spend. The ad spend of digital audio services has also been going up a steady upward path, amid an increasingly competitive streaming ecosystem. Spotify is still holding the lion’s share of subscribers, as Apple, Amazon, and Google continue adding on to their own audio services.

Consumers cherish the familiar

Despite its decline in revenue and audience, over-the-air radio keeps holding a revered spot in American collective consciousness, with a fifth of podcast listeners indicating a preference for ads that sound just like the ones that can be heard on traditional radio. Speaking of podcasts, more than half of listeners said they visited an advertiser’s website after hearing an ad on a podcast, while six out of 10 said they purchased an advertised product. Podcasts have the brains, radio has the reach, and streaming has the financial muscle of people willing to pay up – a powerful mix of elements that advertisers will have to set their focus on to make the most out of the increasingly effervescent waters of the American audio ocean.
This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.
Published by Michele Majidi, Feb 28, 2023

Key insights

Radio ad spend in the U.S.
10.1bn USD
Digital audio ad spend in the U.S.
4.9bn USD
Number of paid music streaming subscribers in the U.S.
82.1m
Get more insights

Editor’s Picks Current statistics on this topic

Advertising spending of largest radio advertising industries in the United States in 2021 (in million U.S. dollars)

Traditional advertising

Leading radio advertising industries in the U.S. 2021

Leading podcast advertisers in the United States in 4th quarter 2022, by ad spend (in million U.S. dollars)

Brands & Leaders

Largest podcast advertisers in the U.S. 2022

Streaming music revenue in the United States from 1st half 2015 to 1st half 2021, by source (in million U.S. dollars)

Music

Streaming music revenue in the U.S. by source 2015-2021

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Reports & StudiesGet the best reports to understand your industry

Digital advertising in the United States
Digital advertising in the United States
Radio in the U.S.
Radio in the U.S.
Online radio in the U.S.
Online radio in the U.S.
Podcasting in the U.S.
Podcasting in the U.S.
Music streaming worldwide
Music streaming worldwide
Music streaming in the U.S.
Music streaming in the U.S.

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