The audio sector is now split into two modes of delivery: traditional (AM/FM) radio, and digital formats like online radio and podcasting. While terrestrial radio reaches almost the entire US population, online radio and podcasting audiences have grown over the past decade. Two of the largest streaming services in terms of audience, Spotify and Pandora are both investing heavily in podcasts. The industry is growing fast—podcasts generated an estimated $479.1 million in revenue in 2018 and are expected to produce more than $1 billion by 2021, according to a new report from the Interactive Advertising Bureau (IAB) and PwC.
Read the full Pew Research Audio and Podcasting Fact Sheet.
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