As Radio Buys In, Podcasting Could Be $43B Industry By 2032


With Audacy and iHeartMedia doubling down on podcasts as the next big future growth sector for audio broadcast companies, a new podcasting ad forecast says the medium’s advertising sector is poised for substantial growth by the year 2032.

According to the latest research, the podcast sphere could reach a valuation of around $43 billion by 2032, marking a robust compound annual growth rate of 14.5%. This optimism stems from targeted, engaging advertising experiences to a highly involved audience.

Throughout the next eight years, the majority of the revenue is predicted to come from host-read advertisements followed by programmatic spots.

Despite a recent boom in Asia, North America stands out as the leading market for the future, benefiting from a large, mature podcasting ecosystem, high internet penetration, and a robust advertising market.

The forecast falls in line with a 2023 study by Acast, conducted across the USA, Canada, Australia, the UK, and Singapore. About 62% of global marketers with prior experience in podcast advertising expect the medium’s growth to continue, with intentions to boost ad spending. Singapore, witnessing the nascent stages of podcasting, sees 37% of marketers preparing for a significant uptick in advertising investment.

Radio companies are seeking to ride the shift in audio consumption patterns following Edison Research’s Q2 2023 Share of Ear data, which showed on-demand audio surpassing linear audio for the first time among listeners aged 13 and older.

On-demand platforms account for 50.3% of daily audio consumption, with linear platforms at 49.7%, marking a significant change from seven and a half years ago when linear listening led by 38 percentage points.


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