In Australia, industry experts suggest that despite a tough advertising market, digital audio is thriving.
According to the recent IAB Australia Online Advertising Expenditure Report, digital audio advertising reached over $68 million in the June quarter.
This was a 14% increase from the same period in 2022.
Podcast advertising surged by 24%, while streaming audio advertising grew over 8% to $41 million for the quarter.
Radio streaming also increased by 81%, while podcast listening sits at a whopping 43% of the population aged 10+.
Total audio advertising for the 2023 financial year reached $235.6 million.