INDUSTRY BRIEF: Radio industry apps have growth potential - Venture Insights

INDUSTRY BRIEF: Radio industry apps have growth potential

TLDR version: Radio industry apps have not yet had the same success as music streaming apps. In 2023 radio app monthly usage reached 30% population penetration compared to 60% for music streaming apps. However, radio apps uptake is growing significantly faster than music streaming. Tighter household budgets will also put a dampener on paid music streaming and encourage a turn to ad-supported audio, with benefits for the radio industry.