Podcast Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 22.34 Billion |
| Market Size (2029) | USD 115.56 Billion |
| CAGR (2024 - 2029) | 38.91 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Podcast Market Analysis
The Podcast Market size is estimated at USD 22.34 billion in 2024, and is expected to reach USD 115.56 billion by 2029, at a CAGR of 38.91% during the forecast period (2024-2029).
- Podcast listenership is on the rise globally, transcending age groups and regions. The diverse content and innovative storytelling techniques captivate audiences, fueling the medium's expansion.
- Historically, men have shown a slight edge in podcast consumption over women. Yet, in 2023, there's been a notable uptick in female listeners. Despite this growth, the overall listenership remains balanced between both genders.
- Gen Z Discovers Podcasts twice as fast as other age groups. Younger groups of podcast listeners are also more likely than their elders to engage with podcasts in different ways, such as by following the podcast or its host(s) on social media or by trying something (like a movie or a lifestyle change) because of something they heard on a podcast.
- Smartphones dominate podcast consumption, favored by 75% of listeners. In contrast, only 13% opt for laptops or desktops. Additionally, Loopex reports a 39% year-on-year surge in daily streams of video podcasts on Spotify in Q1 2024. With TikTok boasting over 1.5 billion monthly active users, podcasters are increasingly leveraging the platform to share clips.
- However, starting a podcast can require a significant initial investment in equipment and technical resources. From quality microphones to audio editing software and hosting services, the costs associated with launching and maintaining a podcast can add up quickly.
- Further, the pandemic accelerated the growth of podcasting as people sought new forms of entertainment and information during lockdowns. This trend has continued, with more listeners than ever engaging with podcasts. Post covid, major companies and investors poured money into podcasting, leading to the launch of new shows and networks. This has also resulted in high-profile exclusives and partnerships with platforms like Spotify and Amazon.
Podcast Market Trends
News Genre Holds Major Share
- Podcasts are increasingly recognized as reliable sources of news and information. Over the past decade, as podcast listening has steadily risen, they have woven themselves into the daily routines and news consumption habits of many Americans, particularly younger adults. Approximately 50% of Americans have tuned into a podcast in the last year, with a significant portion encountering news content.
- According to Loopex, about 20% of podcast listeners report that their chosen podcasts are affiliated with news organizations. A majority of these listeners express a notable trust in the news they receive: 31% trust it more than news from other sources, while 55% trust it equally. Only 15% admit to trusting podcast news less than other sources.
- Listening habits show minimal divergence between Republicans and Democrats. Loopex reports that nearly half of Republicans and those leaning Republican (46%) have engaged with podcasts in the past year, a figure closely matched by just over half of Democrats and their leaners (54%). Furthermore, around two-thirds of both political affiliations acknowledge discussing news topics in their chosen podcasts.
- Delving deeper, among podcast news consumers, nearly half of Republicans (46%) express a stronger trust in podcast news over other sources. In contrast, only about 19% of Democrats share this sentiment. Given the rising trend of podcast consumption for news and events, the market is poised for growth during the forecast period.
North America to Hold Significant Growth
- Over the past decade, North America's podcast audience has experienced significant growth. According to BackLinko, approximately 51% of monthly podcast listeners in the U.S. are male, while 48% are female.
- Data from Loopex Digital reveals that in 2006, only 22% of U.S. adults were aware of podcasting. In 2013, a modest 12% of Americans aged 12 and older tuned into podcasts in the past month. Fast forward to 2023, and that figure surged to 42%. Additionally, weekly listenership jumped from 7% in 2013 to 31% in 2023, highlighting a steady rise in podcast engagement.
- Surveys indicate that similar to many digital trends, younger adults dominate podcast listenership. For instance, two-thirds of Americans aged 18 to 29 have engaged with a podcast in the past year, contrasting with just 28% of those aged 65 and older.
- On the publishing front, National Public Radio (NPR) stands out as a frontrunner in the U.S., consistently attracting over 18 million unique monthly listeners. Leveraging its vast U.S. audience, NPR has cemented its position as a top global podcast publisher, racking up hundreds of millions of unique streams and downloads monthly. In the U.S. arena, NPR finds itself in a competitive tussle with iHeartRadio, which has recently established a notable lead in both listeners and downloads.
- Recognizing the format's burgeoning popularity, music streaming titan Spotify has poured hundreds of millions into podcast-related acquisitions, notably the award-winning Gimlet. Retail giant Amazon is also eyeing the podcasting landscape, signaling potential disruptions and heightened competition. Given these dynamics, North America's podcast market is poised for further growth.
Podcast Industry Overview
The Podcast market is on the brink of heightened competition. The market is fragmented, and to maintain their competitive edge and broaden their global footprint, major players are increasingly turning to strategies like mergers, acquisitions, and product innovations. Key players are Al Jazeera Podcasts, Quill Inc., Pacific Content, and others.
Podcasting works well for brands because of its on-demand nature. One of the most challenging jobs of a marketer is convincing prospects to go through the entire buying funnel, let alone stay to purchase. Podcasting can help reduce the usual wrestle with client "churn," those clients who fail to stick around. Although many businesses admit that their clients feel that a podcast isn't necessarily the most significant driver of leads, it is the best educational platform today.
Podcast Market Leaders
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Al Jazeera Podcasts
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Quill Inc.
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Pacific Content
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JAR Audio
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Lower Street Media Ltd.
*Disclaimer: Major Players sorted in no particular order
Podcast Market News
- December 2023: Riverside partnered with Anchor by Spotify. This integration parallels Spotify's launch of a video podcasting feature for English-speaking countries. With this feature, users can stream their video podcasts with just a click and reach the Riverside user base, subscribing to Spotify monthly.
- November 2023: Acast, a podcast company, collaborated with Proximic by Comscore, a provider of content-targeting and audience solutions for media activation. This partnership aims to enable podcast advertisers worldwide to target audiences without cookies.
Podcast Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 PESTEL ANALYSIS
4.4 Assessment of Impact of macroeconomic trends
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Engagement with Brands after Hearing Podcast Ads for Gen Z
5.1.2 Usage of Smartphones for Listening to Podcast
5.2 Market Restraints
5.2.1 Security Issue of IP or Content from Being Copied
6. MARKET SEGMENTATION
6.1 By Genre
6.1.1 News and Politics
6.1.2 Comedy
6.1.3 Sports
6.1.4 Other Types
6.2 By Geography***
6.2.1 North America
6.2.2 Europe
6.2.3 Asia
6.2.4 Australia and New Zealand
6.2.5 Latin America
6.2.6 Middle East and Africa
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Al Jazeera Podcasts
7.1.2 Quill Inc.
7.1.3 Pacific Content
7.1.4 JAR Audio
7.1.5 Lower Street Media Ltd.
7.1.6 The Podglomerate
7.1.7 Podfly Productions LLC
7.1.8 Content Allies
7.1.9 Q'd Up
7.1.10 Evergreen Podcasts
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OUTLOOK OF THE MARKET
Podcast Industry Segmentation
A podcast is an audio (and sometimes video) medium for creative content. Podcast creators upload podcast episodes, which are downloaded by listeners and listened to on their mobile devices or computers.
The podcast market is segmented by genre (news & politics, comedy, sports, other types), geography (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| By Genre | |
| News and Politics | |
| Comedy | |
| Sports | |
| Other Types |
| By Geography*** | |
| North America | |
| Europe | |
| Asia | |
| Australia and New Zealand | |
| Latin America | |
| Middle East and Africa |
Podcast Market Research FAQs
How big is the Podcast Market?
The Podcast Market size is expected to reach USD 22.34 billion in 2024 and grow at a CAGR of 38.91% to reach USD 115.56 billion by 2029.
What is the current Podcast Market size?
In 2024, the Podcast Market size is expected to reach USD 22.34 billion.
Who are the key players in Podcast Market?
Al Jazeera Podcasts, Quill Inc., Pacific Content, JAR Audio and Lower Street Media Ltd. are the major companies operating in the Podcast Market.
Which is the fastest growing region in Podcast Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Podcast Market?
In 2024, the North America accounts for the largest market share in Podcast Market.
What years does this Podcast Market cover, and what was the market size in 2023?
In 2023, the Podcast Market size was estimated at USD 13.65 billion. The report covers the Podcast Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Podcast Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Podcast Industry Report
Statistics for the 2024 Podcast market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Podcast analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
