{"id":843,"date":"2024-07-02T15:39:41","date_gmt":"2024-07-02T10:09:41","guid":{"rendered":"https:\/\/www.paytunes.in\/blog\/?p=843"},"modified":"2024-07-30T14:46:55","modified_gmt":"2024-07-30T09:16:55","slug":"digital-driven-audio-advertising-is-gaining-momentum-in-the-u-s","status":"publish","type":"post","link":"https:\/\/paytunes.in\/blog\/digital-driven-audio-advertising-is-gaining-momentum-in-the-u-s\/","title":{"rendered":"Digital-Driven Audio Advertising is Gaining Momentum in the U.S."},"content":{"rendered":"

U.S. Audio Advertising, Driven by Digital, Gains Ground.<\/span><\/h2>\n

Despite the steady, continuous increase in digital audio, radio is expected to still account for about 60% of audio-related advertising’s $17.61 billion by 2024.<\/span><\/p>\n

 <\/p>\n

According to a new forecast from <\/span>the eMarketer<\/span><\/a> that says digital audio advertising will increase 6.8 percent in the coming year, reaching $7.12 billion. That’s 40.4 percent of the total audio ad revenue.<\/span><\/p>\n

 <\/p>\n

The increase in the amount of digital audio ads can be described as “more than offsetting a slight decrease in traditional radio advertising,” eMarketer claims.<\/span><\/p>\n

With the advent of Digital Audio, the <\/span>audio advertising<\/span><\/a> market is set to grow. The company predicts that marketers will spend $17.61 billion in audio-related advertising in total this year. The number will rise to $18.42 billion by 2028.<\/span><\/p>\n

 <\/p>\n

The most recent projections for the ad market show that audio ads have shifted into digital with a more gradual speed than what’s been seen in television, as TV advertising has seen declines of double-digit percentages in the years that political advertisements don’t fill in the gaps. On the other hand, AM\/FM radio has seen a slower, lower single-digit decline because digital audio has removed money from traditional radio.<\/span><\/p>\n

 <\/p>\n

Digital advertising will comprise nearly 47% of all audio ads in 2028, eMarketer claims when the total amount of audio advertising is estimated to reach $18.42 billion.<\/span><\/p>\n

 <\/p>\n

“Despite impressive time spent, digital audio gets relatively few ad dollars,” is the text of the executive summary of the report. “Although the average consumer will spend on average 2:42 per day listening to music (21.4 percent of all media-related time), advertisers will spend just $17.61 billion of audio-related ads, approximately 4.5 percent of the all U.S. advertising spend. In other words, the digital audio industry earns 5 cents from sales per hour spent, whereas digital video makes 28 cents and social networks earn 60 cents.”<\/span><\/p>\n

 <\/p>\n

Advertisers are spending just 4.5 percent of their funds on music, eMarketer states, and the majority of that money is being spent on traditional radio. It’s despite the fact an average U.S. adult spends two hours and 42 minutes each day listening to music. In addition, the amount of podcast ads is increasing and is projected by eMarketer to exceed $2 billion by 2024 in revenue that’s which is a 15.9 percent increase from last year’s figures, and surpass the $3 billion mark in 2027.<\/span><\/p>\n

 <\/p>\n

A few other important research findings:<\/span><\/h3>\n

Digital is driving podcast advertising: Podcasts are expected to reach a tidal part of digital audio advertising in 2025. In the year ahead, podcast ad revenues will surpass $2.5 billion for the first time. “We expect growth in podcast ad revenues to continue to outpace growth in the rest of digital audio advertising,” eMarketer states. “By 2028, the podcast share of digital audio advertising will hit 36.2% and top $3 billion.”<\/span><\/p>\n

Digital is driving audio-based advertising: eMarketer says digital audio is the straw that stirs the drink when it comes to general audio-based advertisements. It is expected to increase by 6.8 percent by 2024; it is likely to decrease in the coming years. It is predicted to stay at or above 5% through 2026.<\/span><\/p>\n

 <\/p>\n

Improved traditional radio trend by 2024 “Radio advertising will drop 1.5% this year, but even that decline is an improvement: In 2023, traditional radio advertising fell 3.5%,” eMarketer states. “We anticipate to see a similar 1.5 percentage decrease in 2025. This will be then a slight decrease from 2026 through 2028. In 2027, the broadcast advertising on the traditional level will drop to less than $10 billion, for the first time in the past 30 years.” In the year ahead, eMarketer notes, radio will fall to 59.6 percent of all audio advertisements -the first time that it’s dropped below 60 percent. In 2028, radio is predicted to bring in 52.6 percent of all the audio advertising revenue.<\/span><\/p>\n

 <\/p>\n

“Radio’s ad spend decline is both steadier and more gradual than TV’s,” eMarketer states.<\/span><\/p>\n

\u00a0<\/span><\/p>\n

“Radio advertising resurgence occurred during 2021 and 2022; however, we anticipate it to decrease with a relatively steady low single-digit pace throughout the rest of the next decade. Overall, the declines are less severe than the ones for TV ads. However, events that are cyclical like events like the Olympic Games and U.S. presidential elections, produce an even more pronounced down slope.”<\/span><\/p>\n

 <\/p>\n

Also Read –\u00a0 Metro Train Audio Advertising<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

U.S. Audio Advertising, Driven by Digital, Gains Ground. 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With over 8 years of experience specializing in Google Ads, Meta Ads, SEO, and web design, Nikhil plays a pivotal role in driving the digital marketing strategies that power Paytunes\u2019 growth in the audio advertising space.<\/span>\r\n\r\n<span style=\"font-weight: 400\">He has played a key role in driving Paytunes\u2019 digital marketing initiatives, including the development of a weather-triggered audio campaign for TATA AIG General Insurance, which was shortlisted for the \u2018Best Regional Campaign \u2013 APAC\u2019 award.<\/span>\r\n\r\n<span style=\"font-weight: 400\">He has a strong background in search engine optimization with 7 years of dedicated experience optimizing content and campaigns for maximum online visibility and performance. Nikhil worked across various digital marketing positions, steadily advancing his expertise from Digital Marketing Associate to Senior Digital Marketing Executive. Before joining PayTunes, Nikhil worked in digital marketing and SEO roles at UA Consultants, Aile Medicare, Webtech Solution, and Instate Media.<\/span>\r\n\r\n<span style=\"font-weight: 400\">Nikhil holds a Certification Course in Digital Marketing from the Indian Institute of Management Visakhapatnam. Outside of work, he pursues his passion as a part-time musician, blending creativity with analytics to deliver impactful marketing solutions.<\/span>"}],"_links":{"self":[{"href":"https:\/\/paytunes.in\/blog\/wp-json\/wp\/v2\/posts\/843","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/paytunes.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/paytunes.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/paytunes.in\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/paytunes.in\/blog\/wp-json\/wp\/v2\/comments?post=843"}],"version-history":[{"count":3,"href":"https:\/\/paytunes.in\/blog\/wp-json\/wp\/v2\/posts\/843\/revisions"}],"predecessor-version":[{"id":894,"href":"https:\/\/paytunes.in\/blog\/wp-json\/wp\/v2\/posts\/843\/revisions\/894"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/paytunes.in\/blog\/wp-json\/wp\/v2\/media\/845"}],"wp:attachment":[{"href":"https:\/\/paytunes.in\/blog\/wp-json\/wp\/v2\/media?parent=843"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/paytunes.in\/blog\/wp-json\/wp\/v2\/categories?post=843"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/paytunes.in\/blog\/wp-json\/wp\/v2\/tags?post=843"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/paytunes.in\/blog\/wp-json\/wp\/v2\/ppma_author?post=843"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}