New figures show that marketers spent $479 million on podcasts ads last year, and are projected to spend over $1 billion by 2021.

These figures are from the Interactive Advertising Bureau (IAB), and PwC, and reported on by eMarketer. In an analysis of the US podcast advertising industry, it was found that self-reported podcast advertising revenues grew 34% in 2018. It’s predicted that revenue will grow 42% this year.

It’s projected that 76.4 million people, or a quarter of the US population, will listen to a podcast this year. While podcast listeners still represent a minority of the population, surveys have found that most are listening to several podcasts a week.