Digital ad revenue for podcasts, streaming music hits $4.9B in 2021

Digital audio had the largest growth in ad revenue over the past year compared to other digital sectors, according to a recent report from the Interactive Advertising Bureau conducted by PwC.

Why it matters: As listening grows in streaming music and podcasts, more ad dollars are moving to the mediums.

By the numbers: Digital audio — comprised of podcasts and streaming music and radio — reached $4.9 billion in ad revenue last year, up 58% from the year prior.

• The majority of that growth was from mobile devices versus desktop. Ad revenue in mobile digital audio was $4.1 billion, up 64% from the year prior.

Yes, but: Digital audio is still a much smaller piece of the revenue pie compared to other formats.

• Search had the largest share last year, accounting for 41.4% of $189.3 billion in total digital ad revenue in 2021. Display accounted for 30%, and digital video made up 20.9%.