While traditional radio ad revenue is expected to decline over the next few years (from $11 billion in 2022 to $9.68 billion in 2028), the overall audio advertising market is predicted to grow (from $17.36 billion to $18.42 billion in 2028). This shift is due to the rise of digital audio options like streaming services and podcasts. Podcast ad revenue, though seeing a slowdown in 2023, is still projected to reach $2.6 billion by 2026. Radio is adapting by expanding its own digital offerings, with digital revenue for radio stations increasing 6.8% in 2023. So, while radio’s share of the audio advertising market might shrink, the overall market is still on the rise.