According to “media ecologist” Jack Myers, total U.S. audio ad spend has recovered from a 14% decline between 2000 and 2010. Myers is now forecasting that by 2020, advertisers will spend over $20 billion on audio advertising in the United States. A lot of that growth is driven by solid growth in digital.
Myers says audio content has done better than print-originated content in the face of new digital alternatives. “Newspaper-originated ad spend declined by nearly 40% between 2000 and 2010. Unlike legacy newspaper-originated content, audio ad offerings have maintained geo-targeting attributes combined with real-time content relevance.”
Myers says his forecast for audio advertising spend includes both terrestrial radio and online-originated audio such as Pandora and Spotify, as well as podcasts.