Digital Audio Is Growing Faster Than All Other Digital Media

Written By

Liz Iversen

Published On

Thursday, Mar 04
woman on floor with a smart speaker
Digital audio is now the fastest-growing segment of digital media, according to PQ Media’s latest update on consumer spending on media content and technology. Of the 28 digital media categories, digital audio subscription services grew the most – surging 40 percent in 2020 to reach $30.98 billion worldwide.

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. 

Want to hear your brand on digital audio, podcast, or broadcast radio? Contact SMI today.

Subscribe to our posts

Subscribe to our posts for the latest company and industry news including: Podcasts and Radio Listernship Insights, Creative Research, Audio Trends, Forecasts, and more!