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Traditional search—which excludes retail media search—will claim the biggest share of US ad dollars this year, amounting to $90.73 billion, according to our March 2024 forecast.

CTV devices now account for a significant amount of time consumers spend with digital media. That’s a major reason why time spent with digital video will exceed time spent with TV this year.

Though marketing budgets are under scrutiny in this tight economy, it might make sense to consider integrating audio advertising into your marketing mix. That’s because listener growth is picking up for podcasts and audio formats overall. Audio ad formats also have unique features to help marketers.

Consumers are feeling the squeeze of the rising cost of subscriptions. Nearly seven in 10 (67%) US consumers saw at least one of their subscription services increase their cost, per March 2024 survey by CNET. Meanwhile, more than half (52%) of US adults have canceled a streaming service subscription because of increased pricing, per October 2023 data by TransUnion and Dynata.

US digital audio ad spend will reach $7.12 billion this year, according to our March 2024 forecast.

This year, North America holds the title for most podcast listeners at 149.4 million, per our August 2023 forecast. By 2027, China will take over with 178.7 million listeners.

So that would be potentially competitive to podcasts in terms of people's time spent with the medium, digital radio distribution. So I think in terms of what people, the earbuds they have in while they're doing their favorite chores or whatever it may be, there's more options that aren't podcasts these days.