Summary
Spending on podcast advertising in the US will rise from $758 million in 2020 to $2.4 billion in 2025 at a compound annual growth rate (CAGR) of 26%. Given that US spending on radio advertising was roughly $15 billion in 2019, podcast advertising has ample headroom to rise as listener time migrates from radio to podcasts. Although podcast advertising lagged the broader upswing in digital advertising in 2020, growth will begin to recover in 2021 and accelerate into 2022. Podcast advertising growth will benefit from a rebound in mobility, a recovery in brand advertising, and investments by digital media platforms in better podcast monetization.
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