PQ Media cited the growing popularity of podcasts as one of the primary drivers of the marked increase. Spotify, iHeart, and Amazon all struck numerous deals involving new podcast talent, content, and ad services. And the number of U.S. podcast listeners increased more than 30% in 2020, topping 100 million listeners last year.
Consumer spending on all media content and tech worldwide grew an estimated 6.1% to $2.012 trillion in 2020, a sharp acceleration from the 3.8% increase in 2019. The increase was propelled by strong growth in digital media streaming services and signaled the fastest expansion in both global and U.S. consumer media and tech spending in five years.
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