Podcasts and streaming for music and radio have seen the largest growth in advertising revenue, hitting a total of $ 4.9 billion in revenue in 2021, according to a report by the Interactive Advertising Bureau released Tuesday.
With nearly 58 percent year-on-year growth in advertising revenue – up from 13 percent the year before – the digital audio category will convince streaming video, social media, search and ad serving in 2021, the report found.
The majority of growth in the digital audio category came from mobile devices, which generated $ 4.1 billion in advertising revenue and accounted for 85 percent of the category’s total revenue. Revenue from digital audio desktops rose to $ 739 million, the report said.
But in terms of total dollars, the search remained the most revenue for the year at $ 78.3 billion, followed by display ads at $ 56.7 billion. Digital video was the third largest driver of advertising revenue, bringing in nearly $ 40 billion in 2021, a 51 percent year-over-year growth.
The report also found that ads on social media were able to recover from some of the decline seen in 2020 at the start of the pandemic to bring in a total of $ 57.7 billion last year. But companies like Facebook parent Meta and Snap continue to struggle with revenue cuts caused by Apple’s iOS privacy changes, which went into effect last year and users can opt out of tracking, and the impact can not be fully seen until later this year.