Streaming audio/podcasting is expected to be one of the top growing media channels in 2022, according to marketing research firm Borrell. Streaming audio/podcasting surged 24.7% in 2021 over 2020 and will likely grow another 17.8% in 2022.
One area propelling streaming audio/podcasting’s growth is local advertising. Local businesses are expected to increase spending 6.4% to $138.9 billion in 2022. Much of this spending will be put towards streaming audio/podcasting, whose growth in local advertising next year will out-perform both targeted banner advertising (12.6%) and broadcast TV (12.3%). Radio’s local advertising is also expected to increase in 2021 by 23.7% over 2020.
Borrell plans to release its 2022 Local Advertising Forecast Wednesday and host a 30-minute webinar Tuesday, Oct. 12 at 11am ET. Click here to register.