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Commercial Radio & Audio has welcomed new data from IAB Australia, which shows total digital audio advertising revenue in Australia reached AU$313 million in 2024, growing 18% year-on-year (YOY). The market recorded $90 million in Q4 2024.
CRA says that, according to Milton Data, its members’ digital audio revenue grew 30% YOY, outpacing the 18% YOY market growth reported by IAB Australia.
The Australian Internet Advertising Revenue Report (IARR), compiled by PwC, confirmed podcast advertising as the fastest-growing format for the second consecutive quarter. Podcast ad spend rose 24.3% YOY to $33.6 million in Q4, reflecting strong advertiser confidence.
This momentum highlights a shift toward premium, locally produced content, demonstrating the power of digital distribution in reaching audiences on their terms.
CRA Chief Executive Officer Lizzie Young
“It’s pleasing to see CRA members driving digital audio growth and capturing a larger share of the market,” said CRA Chief Executive Officer Lizzie Young. “This momentum highlights a shift toward premium, locally produced content, demonstrating the power of digital distribution in reaching audiences on their terms. It also reinforces the opportunity for advertisers to leverage scale and engagement efficiently and effectively.”
Podcast advertising growth aligns with strong audience engagement, with 11 million Australians listening to podcasts monthly. Among them, 56% of 25–54-year-olds tune in at least once a month, presenting a key opportunity for brands in the on-demand space.
IAB data also showed continued double-digit growth in streaming audio advertising, which generated $56 million in Q4. Online radio streaming, a subset of this format, has also expanded, with 42% of 25–54-year-olds listening in the past month—nearly double the figure from 2021.
The full IAB Australia IARR report can be found here.
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