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How is programmatic advertising shaping the growth of the digital audio ad market, and how should advertisers spending in terrestrial radio think about balancing their spend between terrestrial and digital audio channels?

Pandora leads but Spotify is rapidly catching up. Pandora will hold a 21.9% share of digital audio ads sales in 2024, while Spotify captures 16.6% and iHeartMedia 10.0%. Spotify will shrink the gap, trailing Pandora in 2026 by only 0.7%. Audio advertising continues to punch beneath its weight class. Audio spending trails audio time.

Note: Pandora listeners include Stitcher listeners. Methodology: Estimates are based on the analysis of survey and web traffic data from research firms and regulatory agencies, historical trends, and country-specific demographic and socioeconomic factors.

And then you've got YouTube very close, Pandora very close, TikTok, and then you have kind of the second tier if you will, and then a big 10-minute jump back to Hulu, Instagram, Reddit, et cetera. So Netflix is by far and away the platform where people are spending most of their time. Zach Goldner (11:55):. And I will argue Oscar's point there. He says that Netflix is not suited to have live sports.

Amazon and Apple will not move the needle very much, and Pandora will lose listeners (3.3% decline) for the eighth year in a row. Read the full report, US Digital Audio Forecast Overview 2024.

After more than a decade of healthy, double-digit compound annual growth, ad spending on digital audio services slowed dramatically in 2023, downshifting the space into a new era

Netflix and Hulu remain near the top, but TikTok and the two major digital audio services we track (Spotify and Pandora) make huge leaps. Facebook, meanwhile, drops substantially in the rankings. And Amazon Prime Video drops to last, an indication of possible challenges as the platform shifts to an ad-centric viewer experience. To view time spent by platform among users, click here.

Spotify and Pandora popular among users. The long tail of digital audio options means that no individual service claims all that much daily time when calculated against the whole population. But among its active adult user base, Spotify will take up a robust 56 minutes per day this year, and Pandora will take 48 minutes.

And so then Pandora, Pandora, too. Yep. I noticed. Well, Ross. So one reason why subscribers are only 13 million, versus some of the other numbers, they've seen the last couple of quarters 2823 3626, marketing pullback, Chief Executive Daniel Eck blaming some of the lowest subscriber growth on a sharp slowdown in marketing.

Spotify and Pandora popular among users. The long tail of digital audio options means that no individual service claims all that much daily time when calculated against the whole population. But among its active adult user base, Spotify will take up a robust 56 minutes per day this year, and Pandora will take 48 minutes.

The ad spending winter of 2022 and early 2023 was mild and short-lived, as we predicted. And after a solid H2 2023, things are looking up across the board for 2024.

Digital audio service includes digital advertising revenues for local and national broadcast radio stations, satellite radio services, purely online radio stations, and streaming music services such as Pandora and Spotify; includes podcast advertising and sponsorship; includes both audio and nonaudio ad formats.

Time spent with CTV devices includes a good deal of time watching video, but it also includes other activities such as shopping, searching, and listening to digital audio like Spotify or Pandora. Average daily time spent with CTV devices has already caught up with time spent with desktop/laptops; by next year CTV (1:56) will be ahead of time spent with desktop/laptops (1:51).

Adult Spotify and Pandora users spend 51 and 49 minutes listening to audio daily, respectively. That’s more time spent than on most social media platforms, according to our forecasts. TikTok, which leads time spent, averaged 53.8 minutes per day from its US adult users. “Audio has massive reach and it’s just going to be continually growing as it has more and more users looking at it.