Online Video + Podcast Revenue Surged in 2024 — Ad-Supported Streaming Music, Not So Much – Digital Music News

Photo Credit: Marvin Meyer
Ad revenue online showed strong revenue growth overall in 2024, increasing 14.9% year-over-year. The IAB/PwC Internet Advertising Revenue Report found internet advertising revenue hit $258.6 billion in 2024, its highest since 2021.
“The US digital ad industry showed remarkable strength in 2024. Despite the volatility from geopolitical shifts, interest rate changes, and economic uncertainty, major events like the Presidential Election and Olympics provided meaningful tailwinds,” said Daven Cohen, CEO, IAB.
“As we look ahead this year, there is no doubt that we will see an even more dynamic market driven by geopolitical and economic factors. There is absolutely growth to be had for those that embrace the volatility and innovate. Now is the time to future-proof your business by exploring new solutions that leverage the latest advancements in technology while ensuring that consumer privacy stays at the forefront.”
The digital ecosystem grew overall, but “mid-tier” media companies saw the largest share. Market share among the top 11-25 companies reached 11% in 2024. That’s an increase of 3.1% since 2023, and highlights the rising influence of emerging digital platforms.
Despite widespread gains throughout the digital arena, ad-supported music streaming fell in 2024, down 1.8% year-over-year, with the RIAA attributing $1.83 billion to ad-supported on-demand streaming. That number includes audio+video streaming, indicating more pull toward user-generated content in video as opposed to produced music-oriented content.
But as both video and podcasting see an increase, that begs the question of Spotify’s plan for continued escalation into podcasts, audio books, and a major advertising expansion: Will this result in ads being pushed to Spotify’s Premium tiers? The company has denied this rumor, but the speculation comes at a decidedly lucrative time for the Stockholm-based streamer as it expands its video offerings in an ad-positive landscape.
Share on:
You must be logged in to post a comment.

source