Madison and Wall analyst Brian Wieser predicts a stagnant trajectory for audio advertising revenue in 2024, characterizing it as “flattish.” Despite an 8.1% overall growth in U.S. advertising in Q3 2023, audio experienced a 2.6% year-over-year decline. Wieser attributes this decline to both traditional and digital audio formats, without specifying further distinctions. Audio’s performance, resembling the decline in publishing, contrasts with the 3% rise in out-of-home advertising due to the return of commutes and digital out-of-home activities. Despite its decline, audio outperformed traditional television, with national TV experiencing a sharper -5.6% decline and local TV falling by -2.8% year-over-year. Digital advertising, excluding political ads, saw remarkable growth of 14.6% in Q3 2023, contributing to an overall U.S. advertising market growth forecast of 5.9% for the year. Looking ahead, Wieser adjusted his 2024 growth forecast to 5.2%, while suggesting audio revenue may remain stagnant, prompting a debate on whether this signifies a victory or a loss.