By comparison, that’s less than one-third of traditional radio’s audience, which is expected to reach 234.7 million US listeners this year, maintaining its 91.5% share of the adult population.
We forecast US ad spending on traditional radio will reach $13.90 billion this year, though growth is in decline. While we do not currently forecast podcast ad spending, the Interactive Advertising Bureau (IAB) and PricewaterhouseCoopers (PwC) expect US podcast ad revenues will grow 110%, to $659 million, by 2020.
And a growing number of US marketers and agency professionals have added podcasts to their budgets. In May 2018, 32% said they already advertise in podcasts, according to Advertiser Perceptions and audio media company Westwood One. Thirty-six percent had plans for podcast advertising in the next six months.