Broadcast radio remains the backbone of the US audio economy, but according to a new report, measurement confusion may be slowing the overall growth of audio advertising, even as consumption rises and innovation accelerates.
The State of Audio Advertising 2025, released by Oxford Road during its Chief Audio Officer Summit, highlights AM/FM’s ongoing strength in providing what advertisers seek most: scale, reliability, and verifiable metrics. Edison Research’s Share of Ear finds that radio reaches 60% of Americans aged 13 and older each day.
According to eMarketer, AM/FM also drives more than $10.3 billion in annual ad revenue, more than any other audio channel.
The report examines audio’s place in a marketplace increasingly governed by visual and algorithm-driven content, noting that audio remains distinct for its immersive and trust-based connection with audiences. Edison shows that podcast listening has tripled in daily reach over the past decade, but Oxford Road cautions that inconsistent standards are limiting the revenue potential of this growth.
IAB forecasts podcast revenue at $2.55 billion for 2025, but alternative estimates that factor in YouTube-distributed podcasts place the number closer to $4.3 billion. Oxford Road points to the lack of agreement on what constitutes a podcast as a core obstacle, which it says is discouraging advertisers from fully investing. Nearly half of surveyed brand marketers cite “limited availability of performance data” as the biggest challenge in podcast advertising.
To address these gaps, Oxford Road is advocating for an industry-wide definition of podcasting, describing it as “an audio-driven on-demand program rooted in the spoken word.” The company also announced the formation of the Alliance for Measurement in Podcasting, a coalition of advertisers, platforms, and analytics firms working to establish common standards and improve attribution models.
For podcasters, the opportunity lies in embracing radio’s lessons: build structure, invest in measurement, and define value beyond impressions. For broadcasters, it’s a reminder to emphasize what they already offer: clarity, brand safety, audience trust, and market-proven ROI.
