Commercial audio listening is forecast to rise by around 20% over the next decade, with new analysis suggesting podcast growth will come alongside continued resilience in radio.
The forecasts, unveiled by industry body Radiocentre at its Tuning In conference, predict that commercial podcast listening hours will effectively double over the period.
Ad-funded streaming is also expected to grow, while linear commercial radio is forecast to see some increases in total weekly listening hours. The analysis suggests growth in podcasts and digital audio will not come at radio’s expense.
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Radiocentre commissioned the audience forecasts, led by media consultant Mathew Horsman, to help inform the government’s Digital Radio and Audio Review, launched earlier this year.
The research also points to further changes in how audiences access live radio, with online listening expected to expand as smart speaker adoption continues.
Its base-case forecast suggests most live commercial radio listening will come through online platforms by the early 2030s, although broadcast platforms such as DAB are expected to retain an important role.
Separate forecasts developed by Enders Analysis suggest total audio advertising revenues across radio, podcasts and streaming will also grow over the next decade.
Radiocentre CEO Matt Payton said:
“These are obviously only forecasts, and there are many variables that could knock things off course, but they show that the commercial audio industry remains buoyant and has capacity for real growth.
This next era of growth offers a great opportunity for brands of all types to tap into the reach, resonance and results audio is
