The Global Podcasting Market size is expected to reach $41. 8 billion by 2026, rising at a market growth of 24. 6% CAGR during the forecast period. Podcasts are a series of verbally expressed word audio documents that can be downloaded by means of the internet on playback devices.
New York, Sept. 28, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Podcasting Market By Genre, By Formats, By Region, Industry Analysis and Forecast, 2020 - 2026" - https://www.reportlinker.com/p05975424/?utm_source=GNW
The simple availability of Podcasts during travel times and performing multiple tasks, for example, strolling, planting, working out, or cleaning, drive the market development.
The prevalence of this audio broadcasting content was a progressive procedure since its beginning in the early 2000s. This audio content was available just on iPods, media players, PCs, and laptops, with just radio shows being changed over in podcasts. The slow web speed and low storage space issues ruined this current industry’s development in those days as clients battled to stream Podcasts on their cell phones. However, the arrival of cell phones, high bandwidth, and recently, personal digital assistants has made the progress for this industry and has changed from niche media to standard music mediums.
While the market is still in its early stage, it has seen massive development in both production volume and utilization over the previous decade. As indicated by a report published by the New York City legal body, New York, known as the focal point of this industry, recorded 42.0 million weekly listeners in 2017. Since the market for podcasts is adjusted to follow present-day consumption patterns, it is anticipated to become exponentially over the forecast period due to the popularity of promptly accessible entertainment content.
The COVID-19 episode has prompted expanded guidelines on venturing out of homes and assembling at publics spots. This outbreak has decidedly affected the already emerging market for Podcasts; clients pick to tune in to streaming channels when doing their family tasks or when working from home. While podcast utilization is straightforwardly related to commuting practices, the shortening of drive times because of less traffic has diminished the listening extents. Nonetheless, the Podcast industry has accomplished opportunities because of the unexpected rise in in-home media consumption during this outbreak.
Based on Genre, the market is segmented into News & Politics, Comedy, Society & Culture, Sports and Others. Based on Formats, the market is segmented into Interview, Panels, Conversational, Solo and Others. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The major strategies followed by the market participants are Partnerships and Product Launches. Based on the Analysis presented in the Cardinal matrix; Apple, Inc. is the major forerunner in the Podcasting Market. Companies such as Amazon.com, Inc., Spotify Technologies S.A., iHeartMedia, Inc., Entercom Communications Corporation, Megaphone LLC, Sirius XM Holdings, Inc, TuneIn, Inc., SoundCloud Ltd., and The Adecco Group are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Amazon.com, Inc., Apple, Inc., Sirius XM Holdings, Inc. (Pandora Media, Inc.), Spotify Technologies S.A., Entercom Communications Corporation (Radio.com), The Adecco Group, iHeartMedia, Inc. (Thomas H. Lee Partners), TuneIn, Inc., Megaphone LLC (The Slate Group), and SoundCloud Ltd.
Recent strategies deployed in Podcasting Market
Partnerships, Collaborations, and Agreements:
Jul-2020: Megaphone extended its partnership with Podsights, the leading attribution platform for podcast advertising. The partnership was aimed to enhance Podsights’ attribution capabilities to all campaigns run through the Megaphone Targeted Marketplace (MTM). The Megaphone Targeted Marketplace (MTM) is the largest collection of premium podcast inventory offering data-driven targeting and measurement.
Jun-2020: iHeartRadio came into partnership with WarnerMedia Entertainment, a mass media and entertainment conglomerate. The partnership was focused on producing a slate of companion podcasts for HBO Max’s upcoming catalog of original and legacy shows. The first podcasts will be for the comedy-thriller series “Search Party".
Jun-2020: Megaphone announced its collaboration with ESPN, a cable company. Following the collaboration, the latter company has been using the former company’s hosting, publishing, dynamic ad insertion, campaign management, forecasting, and analytics tools.
Jun-2020: Sirius extended its partnership with Fox News Media, a media company. Together, the companies combined over 100 million listeners; the listeners have continued access to their cutting edge news coverage, as well as best in class lifestyle and opinion programming.
Jun-2020: TuneIn extended partnerships with top-rated broadcast news networks CNN and Bloomberg Media. These partners joined TuneIn Premium’s commercial-free news lineup that includes CNBC, FOX News Talk, and MSNBC. Exclusive to TuneIn, commercial-free news provides listeners with a seamless ad-free experience as partners can use station-specific short-form content and curated clips to replace ad breaks for the networks’ full lineup of on-air programs.
May-2020: iHeartMedia collaborated with OZY, a media company. Together, the companies launched a new podcast series ’Flashback: History’s Unintended Consequences’. The series features stories of disastrous turning points, dangerous ideas, crazy coincidences, unsung heroes, and forgotten villains.
May-2020: Cadence13, a subsidiary of Entercom signed partnership agreement with Headspace, a global leader in meditation and mindfulness. Together, the companies would create a slate of new and original podcasts. The first, Radio Headspace, would feature a daily, short-form meditation podcast to help listeners cope with the heightened stress of the changing world.
Apr-2020: iHeartMedia teamed up with BuzzFeed, an internet media, news, and entertainment company. Jointly, the companies announced a new, original Podcast “News O’Clock,” a One-Stop-Shop for the Daily News and Pop Culture Listeners. News O’Clock is a 20-minute news digest debuting every weeknight that breaks down the day’s headlines from the worlds of politics, culture, and entertainment.
Aug-2019: U.S. Bank and TuneIn launched their six-part, bi-weekly new finance podcast series, The Save Space Podcast. The new podcast series aimed to raise awareness around financial literacy and features experts, musicians, and entrepreneurs.
May-2019: iHeartRadio extended its agreement with ARN, a media company. ARN extended its iHeartRadio license in Australia, providing millions of listeners with access to the free, all-in-one digital audio entertainment platform until 2036. The latter company aimed to deliver all forms of broadcast and on-demand audio content in one place. Additionally, ARN broadened its capability and innovation in areas such as smart speaker integration for radio, podcasting development, data profiling, and targeting, as well as exclusive access to a global platform development team.
May-2019: Entercom came into an agreement with Liberated Syndication, a worldwide leader of podcast hosting, distribution, and monetization. The agreement was aimed to distribute Libsyn podcasts on RADIO.COM, Entercom’s integrated digital platform. The RADIO.COM partnership made it easier for listeners to consume the great podcasts by making the podcasts directly available on an app they already use daily.
Apr-2019: Megaphone came into collaboration with NBC News Group, the news division of NBCUniversal. Under this collaboration, NBC News aimed to use Megaphone’s industry-leading distribution, content management, measurement, and monetization features for all of its podcast programming.
Acquisition and Mergers:
Jul-2020: Sirius took over E.W. Scripps Co.’s Stitcher podcast production, distribution, and advertising unit, Variety. The acquisition expanded Sirius XM footprint across all audio-entertainment formats.
May-2020: Amazon acquired Podcast Networks related to news and sports. The acquisition helped the company in entering Local Search Advertising. Localized podcasting complemented Amazon’s Echo device.
Aug-2019: Entercom completed the acquisition of Pineapple Street Media, an independent producer of top-rated podcast content, and reached an agreement to acquire Cadence13, an industry leader in podcast creation and distribution. The acquisitions helped the company in becoming one of the country’s top three podcasters and a leading creator, distributor, and seller of top-rated podcast content.
Mar-2019: Spotify acquired a small podcasting studio called Parcast, known best for true-crime and other factual serials in genres. This acquisition scaled up its business and helped it become the world’s biggest music streaming platform.
Feb-2019: Spotify took over Gimlet Media and Anchor, the media companies. Gimlet Media is a start-up podcast network, and Anchor provides creators with tools to build, publish, and monetize podcasts. The acquisition accelerated its podcast credentials and working to become the world’s number one audio platform.
Sep-2018: iHeartMedia signed an agreement to acquire Stuff Media, LLC, the leading publisher of entertaining and informative podcast content. The acquisition would enable iHeartMedia to use Stuff Media’s original content, programming, and experienced podcasting management team and to further expand its podcasting platform.
Dec-2017: Apple acquired the start-up behind a podcast search engine, Pop Up Archive. The acquisition enhanced the knowability and sortability of the hundreds of thousands of shows distributed through its Apple Podcast platform.
Product Launches and Product Expansions:
Jul-2020: Apple introduced its own daily podcast; it announced the show along with other news about audio stories coming to Apple News and curated local Apple News collections, as well as the release of iOS 13.6. The show, called Apple News Today, will be hosted by Apple News editors Shumita Basu and Duarte Geraldino. Additionally, Apple will release 20 audio stories a week through Apple News Plus. The stories will be voiced by professional actors, and there will be narrated long-form pieces published by big-name outlets like Esquire, GQ, New York magazine, and Vanity Fair.
Jul-2020: Apple announced several new features for Apple News and Apple News+. These features include audio stories of some of the best feature stories from Apple News+, a daily audio news briefing hosted by Apple News editors, and curated local news collections beginning in five cities and regions and expanding to more areas in the future. Apple News is also adding more top local and regional news outlets for readers and subscribers, including The Charlotte Observer, the Miami Herald, and The News & Observer (Raleigh, North Carolina).
Jul-2020: Spotify introduced ‘VodcastsSpotify’s new video podcasts. Spotify Free and Premium users can watch video content from podcasts including Book of Basketball 2.0, Fantasy Footballers, The Misfits Podcast, H3 Podcast from Ethan, and Hila Klein of h3h3, The Morning Toast (a talk show hosted by Claudia Oshry, aka “Girl With No Job".
Jun-2020: Apple launched The Zane Lowe Interview Series, available on Apple Music, Apple Podcasts, and via RSS. The new series is the first series aimed at Apple’s consumers that focuses exclusively on entertainment content. The episodes in the series will feature Apple’s Global Creative Director Zane Lowe in conversations with leading artists like Billie Eilish, Justin Bieber, Kanye West, Hayley Williams, and, most recently, Lady Gaga.
May-2020: Spotify launched nine new Indonesian podcasts as the latest additions to its exclusive line up. The new podcasts are BKR Brothers, Makna Talks, Destanya Siapa?, Podcast DariTaDi Yu Ya Yukk, Podcast Malam Kliwon, Rintik Sedu, Teman Tidur, Kinosgina, and Thirty Days of Lunch.
Dec-2019: Audible, Amazon’s audiobook company launched a new app exclusively for India, called Audible Suno. The app provides free access to original audio series across many genres from India.
Scope of the Study
• News & Politics
• Society & Culture
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• Amazon.com, Inc.
• Apple, Inc.
• Sirius XM Holdings, Inc. (Pandora Media, Inc.)
• Spotify Technologies S.A.
• Entercom Communications Corporation (Radio.com)
• The Adecco Group
• iHeartMedia, Inc. (Thomas H. Lee Partners)
• TuneIn, Inc.
• Megaphone LLC (The Slate Group)
• SoundCloud Ltd.
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