Radio groups embrace podcasts.

Radio companies like Audacy and iHeartMedia are investing heavily in podcasts, anticipating substantial growth in the medium’s advertising sector. Market.us forecasts the podcasting industry to reach $43 billion by 2032, with a 14.5% compound annual growth rate. The optimism is fueled by targeted advertising to engaged audiences. Host-read ads are expected to dominate revenue, followed by programmatic spots. North America leads this growth, benefitting from a mature podcasting ecosystem. Acast’s 2023 study shows 62% of global marketers anticipate podcast advertising growth, with significant investment in markets like Singapore. This shift aligns with Edison Research’s data, where on-demand audio surpasses linear audio consumption.